Calvalley’s leadership team brings high levels of industry experience and expertise, dynamism, and a willingness to set an ambitious strategic direction. They will enable Calvalley to excel and extend into new frontiers for rapid gains and long-term expansion.
In conjunction with its listing on the Toronto Stock Exchange in 2002, Calvalley Petroleum Inc. developed a Code of Conduct, Reserves Evaluation policy, Health & Safety and Environmental policies along with other governance mandates to ensure appropriately high levels of performance. As a private company since 2015, we are proud at Calvalley to continue to govern ourselves by these high standards.
The principal role of the Board of Directors of Calvalley is stewardship of the company and the creation of shareholder value. Its fundamental objective is the protection and enhancement of the value of Calvalley’s assets. This involves overseeing the conduct of the business and management team, who are responsible for the day-to-day running of the business, plus ensuring the right systems are in place to manage risks to the business and its assets.
Calvalley’s Board of Directors has appointed a number of committees to ensure our high standards of corporate governance are continually met.
The Corporate Governance Committee is a standing committee appointed by the Board of Directors, responsible for overseeing and assessing the functioning of the Board and the committees of the Board. It is charged with the development, recommendation, implementation and assessment of effective corporate governance principles and guidelines.
The Audit Committee is a committee of Calvalley’s Board of Directors, to which the Board has assigned responsibility for oversight of the annual audit, including management’s reporting on internal accounting standards and practices, financial information and accounting systems and procedures, financial reporting and statements.
The Compensation Committee is a standing committee appointed by the Board of Directors, to assist the Board in discharging its responsibilities relating to the compensation and retention of key senior management employees. It ensures the business has the skills and expertise needed to achieve its goals and strategies at fair and competitive compensation and appropriate performance incentives.