The Board remains focused on strong corporate governance and effective risk management.
The Board is accountable to shareholders for sustainable financial performance and long-term shareholder value. It meets these aims by approving the Group’s strategy and ensuring that the necessary resources are in place to achieve the agreed strategic aims and objectives. It determines the Company’s key policies and reviews management and financial performance.
The Board operates within a framework of controls and these clear procedures, lines of responsibility and delegated authorities allow risk to be assessed and managed effectively. These are underpinned by the Board’s work to set the Group’s core values and standards of business conduct and ensure that these, together with the Group’s obligations to its stakeholders, are widely understood across all its activities.
Board composition
The Board currently comprises a Chair, an Executive Director and five independent non-executive Directors. Together, they bring a broad range of business, commercial and other relevant experience. The Board are of the view that there is an appropriate balance of skills, experience, independence and diversity of background amongst the members to carry out duties and responsibilities effectively.
| Board Member | Year appointed |
| Chair | |
| Dorothy Thompson | 2018 |
| Executive Directors | |
| Rahul Dhir | 2020 |
| Les Wood | 2017 |
| Non-Executive Directors | |
| Jeremy Wilson | 2013 |
| Mike Daly | 2014 |
| Sheila Khama | 2019 |
| Genevieve Sangudi | 2019 |
| Martin Greenslade | 2019 |
Tullow Incentive Plan rules
This document sets out detailed rules of the Tullow Incentive Plan which is a discretionary benefit offered by Tullow Oil plc for its employees.
Schedule of matters reserved for the Board
Section 430 (2B) Statement - Retirement of Steve Lucas
This document is provided in accordance with Section 430 (2B) of the Companies Act 2006
Section 430 (2B) Statement - Resignation of Paul McDade and Angus McCoss
This document is provided in accordance with Section 430 (2B) of the Companies Act 2006
Our policies
Tullow Oil Code of Ethical Conduct
01 September 2018
Tullow Oil human rights policy
16 April 2020
Tullow Oil external audit policy
16 April 2020
Tullow Oil risk management policy
16 April 2020
Tullow Oil safe and sustainable operations policy
16 April 2020
Governance framework
The Board of Directors
Chair, Executive Director and non-executive Directors
The Board operates under the leadership of the Chair and is collectively responsible for setting the Company’s strategy to deliver long-term value to shareholders and other stakeholders. The Board ensures the appropriate resources, leadership and effective controls are in place to deliver the strategy. The Board also sets out the Company’s culture and values, monitors business performance and provides risk management. The Board delegates some of its responsibilities to Board Sub-Committees. The Board is accountable for the stewardship of the Company’s business to the shareholders.
Audit Committee
Responsible for financial reporting, audit, internal control and risk management.
Nominations Committee
Responsible for Board composition, appointment of Directors and succession planning.
Remuneration Committee
Responsible for reward and compensation for Executive Directors and the Chair and reviewing the remuneration arrangements for the Executive Team and employees.
Safety & Sustainability Committee
Responsible for health, occupational and process safety, environment and security management.
Board committees
Code of ethical conduct
