Board and management

The Board currently comprises a Chairman, Chief Executive Officer, four other Executive Directors and six independent non-executive Directors. Each of the Executive Directors has extensive knowledge of the oil and gas industry.

Board member Year appointed Executive Director Non-executive Director
Simon Thompson 2011   x
Aidan Heavey 1985 x  
Graham Martin 1997 x  
Angus McCoss 2006 x  
Paul McDade 2006 x  
Ann Grant 2008   x
Ian Springett 2008 x  
Tutu Agyare 2010   x
Steve Lucas 2012   x
Anne Drinkwater 2012   x
Jeremy Wilson 2013   x
Mike Daly 2014   x

Together, the non-executive Directors bring a broad range of business, commercial and other relevant experience to the Board, which is vital to the management of an expanding international company. Three of the seven non-executive Directors either currently hold or previously held appointments in oil and gas companies or companies with energy interests.

The Board considers there is an appropriate balance between Executive and non-executive Directors, with a view to promoting shareholder interests and governing the business effectively.

Strategy and execution

Regularly update strategy to maximise value creation, taking into account external views on political and economic developments in host countries. Ensure adequate time is allocated for Board discussions of:

  • The exploration opportunity set;
  • Resource allocation to exploration, appraisal and development projects;
  • Finance and portfolio management options; and
  • Maintaining operating cost and capital discipline.

Risk management

Continue to ensure that appropriate systems and processes exist to identify, monitor and manage evolving risks, with a particular focus on:

  • Social impacts and external stakeholder relations;
  • Country risk;
  • EHS;
  • Security and human rights; and
  • Treasury and financing options.

Governance and values

  • Maintain and enhance Tullow’s culture and values;
  • Reinforce compliance with Tullow’s Code of Business Conduct;
  • Continue to strengthen internal controls and reporting;
  • Seek shareholder approval for new remuneration policy; and
  • Form a new EHS Board sub-committee.

Organisational capacity

  • Continue to build organisational capacity through recruitment, induction, development, recognition and reward;
  • Ensure organisational design is fit for purpose and evolves to reflect the growth in size and complexity of the business;
  • Continue to monitor senior executive development plans to provide succession for all key positions; and
  • Continue to increase the diversity of the management team.

Stakeholder engagement

  • Continue to enhance Board-level interaction with shareholders, employees, politicians, key decision-makers, NGOs and other stakeholders; and
  • Arrange Board visit to Kenya.

Board development

  • Undertake agreed personal development plans; and
  • Arrange external presentations on agreed topics

Strategy and execution

  • The strategy was articulated in the various presentations of the 2012 annual results and 2013 half-yearly results to the market and shareholders.
  • It was debated and re-affirmed at a mid-year Board strategy review.
  • At each Board meeting there have been regular standing items on the exploration opportunity set, resource allocation, treasury, finance and portfolio management options and cost and capital discipline, and Board time allocated accordingly.

Risk management

  • The systems and processes for monitoring various risks continued to evolve and improve throughout the year, culminating in a decision to merge the EHS and External Affairs Departments to ensure the proper resources and attention could be devoted to the most critical areas.
  • Mandatory criteria were agreed for Social Investment projects.
  • Although there was greater focus on and attention given during the year to social impacts and external relations in our key areas of operation, the two-week suspension of operations in Kenya, due to local unrest in Turkana, showed that there was much room for improvement by both Tullow and all levels of Government in managing stakeholder expectations.
  • The newly formed Board EHS Committee met four times during the year and focused on process safety, incident management, EHS culture and the measurement of EHS performance.

Governance and values

  • The Compliance Department continued to run sessions on Tullow’s Code of Business Conduct, reaching around 88% of our staff. These interactive sessions focused as much on culture and values as on governance issues and drew upon some examples of less than satisfactory behaviours which came to light in the course of the year, learning lessons appropriately.
  • While internal controls and reporting continued to be strengthened, some low level examples of failures in our systems were observed and were dealt with appropriately.
  • Shareholder support for the new remuneration policy was obtained at the AGM, and the EHS Board Committee was formed at the start of the year.

Organisational capacity

  • We continued to fill some key roles in 2013 and were able to attract high-calibre candidates from other companies, demonstrating the appropriateness and flexibility of the reward packages we are able to offer.
  • The organisational design of the business remained much the same as in 2012, except for the merger of the EHS and External Affairs Departments and the integration of the Spring Energy Team in Norway.
  • Senior executive development and succession plans are regularly kept under review, particularly at times when vacancies arise in key roles.
  • The diversity of the senior corporate and local management teams continued to increase in 2013 with some key roles being filled in Ghana, Kenya and in the corporate centre by local nationals and women.

Stakeholder engagement

  • Board-level interaction with employees continued in 2013 at various functions. While the visit to Kenya had to be postponed because of the Westgate Centre episode, it has been added to the Board calendar in March 2014.
  • The Chairman represented the Company at various events and the Senior Independent Director met a number of shareholders and shareholder bodies while explaining the proposals for the new remuneration policy.

Board development

  • The Chairman continued to engage with all Directors on their training and development needs, resulting in most Directors attending suitable general or bespoke courses or events.
  • The Board continued to invite various external speakers to present at Board meetings on topics such as political risk in our key areas of operation in Africa and stakeholder engagement.

Strategy and execution

Regularly review strategy in the light of social, economic and political developments. Ensure adequate time is allocated to monitoring:

  • Execution of the strategy:
  • Effectiveness of resource allocation to exploration and appraisal activities;
  • Portfolio management; and
  • Major capital projects.

Risk management

Continue to ensure that appropriate systems and processes exist to identify, monitor and manage evolving risks, with a particular focus on;

  • Political risk evaluation;
  • Community relations and social performance;
  • Security and human rights; and
  • EHS, particularly process safety.

Governance and values

  • Maintain and enhance Tullow's culture and values.
  • Reinforce compliance with Tullow's Code of Business Conduct.
  • Continue to strengthen internal controls and enhance 'whistle-blowing' facilities.

Organisational capacity

Continue to build organisational capacity without compromising Tullow's culture.

  • Build awareness of non-technical risk management within line management and the technical functions.
  • Further strengthen the Human Resource function.
  • Strengthen the Sustainability and External Affairs function.
  • Strengthen the Commercial function.
  • Continue to monitor senior executive development to provide succession for all key functions.
  • Increase the diversity of the management team.

Stakeholder engagement

  • Enhance Board-level engagement with shareholders, politicians, CSOs and other stakeholders.
  • Arrange Board visit to Kenya.

Tullow people diaries

Employee sitting by desk

See what it's like to work at Tullow as employees film their own roles.