2011 Annual Report PDF - Tullow Oil plc

76
Chairman’s introduction
At Board level, we seek to provide strong
leadership, to set the tone for the organisation,
and to continuously improve the way we work
together to ensure we maintain and enhance
the culture and values of the Group.
81
Board of Directors
In accordance with the UK Corporate Governance
Code, all the Directors, except those retiring,
will stand for re-election at the Annual General
Meeting in May 2012.
84
Audit Committee report
The Audit Committee met on four occasions
in 2011 and fully discharged its main
responsibilities during the year.
86
Nominations Committee report
We will conduct the searches for two new
Non-executive Directors sequentially to ensure
that they collectively bring the desired blend of
personal attributes, background and skills.
88
Directors’ remuneration report
Our remuneration policy seeks to align the
interests of shareholders and Executive
Directors. We reviewed the changes made
to our Remuneration Policy in 2011 with
major shareholders.
100
Applying the code
The UK Corporate Governance Code took
effect from June 2010 and the Board’s view is
that Tullow has fully complied with the Code
during the year.
CORPORATE
GOVERNANCE
106
Other statutory information
ENTREPRENEURIAL
SPIRIT & INITIATIVE
Maintain our entrepreneurial and
creative spirit as we challenge
ourselves to develop the business
and as individuals. This value is reflected
in the agility, innovation and sense of
personal initiative that have underpinned
Tullow’s success to date.
4