Committees

Please select from the list below to learn more about our Committees.

Audit Committee

The Audit Committee is responsible for monitoring Dream Industrial REIT’s systems and procedures for financial reporting and internal controls and the performance of Dream Industrial REIT’s external auditors. It is responsible for reviewing certain public disclosure documents prior to their approval by the full Board and release to the public including, among others, Dream Industrial REIT’s quarterly and annual financial statements and management’s discussion and analysis. The Audit Committee is also responsible for recommending to the Board the firm of chartered professional accountants to be nominated for appointment as the external auditor, and for approving the assignment of any non-audit work to be performed by the external auditor. The Audit Committee meets regularly in private session with Dream Industrial REIT’s external auditors and internal audit function, without management present, to discuss and review specific issues as appropriate.

The full responsibilities of the Audit Committee are set out in a written charter, which is reviewed annually by the Board. The charter is available for review under the Charters & Policies section.

Applicable law and the Declaration of Trust requires the Board to have an Audit Committee consisting of at least three Trustees, each of whom must be independent and “financially literate” within the meaning of NI 52-110. The Committee currently consists of three Trustees:

Audit Committee members: J. Michael Knowlton, Vicky Schiff and Sheldon Wiseman (Chair).

Governance, Compensation and Environmental Committee

The Governance, Compensation and Environmental Committee, in consultation with the Chair of the Board, is responsible to:

  • assess from time to time the size and composition of the Board and its committees;
  • review the effectiveness of the Board’s operations and its relations with management;
  • assess the performance of the Board, its committees and individual Trustees;
  • review Dream Industrial REIT’s statement of corporate governance practices; and
  • review and make recommendations to the Board with respect to the compensation of Trustees and any officers of Dream Industrial REIT who are not employed by Dream Industrial REIT’s external asset manager.

The full responsibilities of the Governance, Compensation and Environmental Committee are set out in a written charter, which is reviewed annually by the Board. The charter is available for review under the Charters & Policies section.

The Committee currently consists of three Trustees:

Governance, Compensation and Environmental Committee members: J. Michael Knowlton, Ben Mulroney (Chair) and Vicky Schiff.

Executive Committee

The Executive Committee meets on an “as needed” basis and has the authority to exercise all of the powers and discretions in the management and direction of our activities delegated to it by the Board of Trustees in accordance with the Declaration of Trust, Board and committee mandates and applicable law, including to:

  • approve or reject proposed investments made by Dream Industrial REIT in accordance with the investment guidelines, in each case, of up to $50 million (by way of debt or equity);
  • approve the assumption or granting of any mortgage made by Dream Industrial REIT of up to $50 million (or such other amount provided the terms thereof have been reflected in the operating budget approved by the Board for the applicable year);
  • develop the strategy, risk management and staffing requirements for review and approval by the Board; and
  • approve the assumption or incurrence of any debt obligations by Dream Industrial REIT of up to $50 million (or such other amount provided the terms thereof have been reflected in the operating budget approved by the Board for the applicable year).

The full responsibilities of the Executive Committee are set out in a written charter, which is reviewed annually by the Board. The charter is available for review under the Charters & Policies section.

The Committee currently consists of two officers and two Trustees:

Executive Committee members: Michael Cooper (Chair), Vincenza Sera and Lenis Quan and Brian Pauls.

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