Pacific creates an independent committee of the Board
Pacific creates an independent committee of the Board to support their decisions
Pacific Exploration & Production Corp. adopted a corporate governance practice used in Canada, creating a kind of parallel Board of Directors or an independent committee of the current Board.
Says the oil that this committee will favor decision-making through a process that adequately manage any potential conflicts of interest.
This advisory group was established taking into account the following:
- It was established as an ad hoc committee elected by all the members of the Board of Directors of the Company at a meeting held in January 2016.
- The role of the Independent Committee is to evaluate any strategic alternative to the capital structure of the Company, and make recommendations thereon to the Board.
- Members of the Independent Committee are not members of the Company management.
- No member of the Independent Committee is interested in the proposals amending the structura capital of the Company.
- Members of the Independent Committee may issue recommendations free of any conflict of interest.
- The Independent Committee has independent legal and financial advisors to assist in its work.
- Members of the Independent Committee, as members of the Board, must act in the best interest of the Company.
https://www.dataifx.com/noticias/acciones-colombia/articulo-25436-pacific-crea-un-comite-independiente-de-la-junta-directiva-para-apoyar-sus-decisiones