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Chair of the Board’s Message
“The Bank's performance in a year of change and economic uncertainty demonstrated the advantages of its diversified businesses and conservative risk appetite.”
TD ended 2023 a strong, well-capitalized Bank, focused on delivering for our nearly 28 million customers and clients. The Bank’s performance in a year of change and economic uncertainty demonstrated the advantages of its diversified businesses and conservative risk appetite.
TD’s 2023 reported earnings of $10.8 billion supported important investments in new capabilities, which will improve the Bank's control environment and our customers’ experience. Our performance and strong capital position also enabled the Bank to pay consistent and higher dividends, and to initiate a significant share buy-back to return value directly to shareholders.
The Bank continued to contribute its philanthropy and expertise to support a more sustainable and inclusive future. Through the TD Ready Commitment, we invested more than $157 million in 2023 in the communities in which we operate. TD also established a new sustainable and decarbonization finance target to mobilize $500 billion by 2030 through financial activities and the Bank’s own investments.
These outcomes were achieved through the dedication and commitment of TD’s 95,000 colleagues. During a period of economic uncertainty, they remained focused on our customers and on the Bank’s success and I thank them for their hard work.
The Board of Directors would like to thank our Group President and CEO for his continued stewardship of the Bank, and the Senior Executive Team for their leadership. The Board also extends its thanks to our customers for the opportunity to serve them, and to our shareholders for their ongoing confidence in the Bank.
As 2023 comes to a close, so does my tenure as Chair of the Board. It has been a privilege to serve TD and our shareholders as a director since 2008 and as Chair since 2011. It has also been very rewarding to work with my fellow directors and the Bank’s management. I wish everyone at TD continued success for the future.
Brian M. Levitt
Chair of the Board
THE BOARD OF DIRECTORS
The Board of Directors, as of November 30, 2023, is listed below. A full list of its committees and key committees’ responsibilities can be found on page 16. Our Proxy Circular for the 2024 Annual Meeting will set out the director candidates proposed for election at the meeting, as well as additional information about each candidate, including education, other public board memberships, areas of expertise, TD Committee memberships, stock ownership and attendance at Board and Committee meetings.