Ness Energy International, Inc. is re-energizing its boardroom. The company announced yesterday that its former board members Dr. Richard Nash and Mark Bassham have resigned from their director positions. Anthony Allenby, Ness CEO and Chairman of the Board, has appointed Dr. Yolanda Garcia and Mr. George O’Donnell to fill the slots.
“I have appointed the board with the two honorary positions being gratefull accepted,” Allenby said in a release yesterday. “Both individuals walk with great wisdom and discernment. I am certain that each will be a huge asset to the company in fulfilling its strategic objectives, the great Vision and ensuring good governance.”
The company said Garcia and O’Donnell will serve on the Board until such time as a shareholder meeting is held and new board members are elected. Plans are being formalized for a shareholder meeting, currently scheduled for November 5 in the Dallas, TX area, and will be announced in weeks to come.
“Both individuals walk with great wisdom and discernment. I am certain that each will be a huge asset to the company in fulfilling its strategic objectives, the great Vision and ensuring good governance.” –Ness Energy CEO Anthongy Allenby on the company’s new board appointees.
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OGE Energy Corp. in Oklahoma City, Okla., announced Sunday that its board of directors elected Peter Delaney as chairman and CEO. Delaney succeeds Steven E. Moore who died Saturday after an eight-year battle against cancer. In a statement, OGE lead director Luke Corbett said Delaney’s appointment to replace Moore was part of a succession planning process begun more than 18 months ago by the company’s board with the assistance of its nominating and corporate governance committee. Delaney has been in charge of the day-to-day operations of the company being named president and COO earlier this year.
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Chevron Corp.’s Board of Directors approved a three-year, $15 billion buyback program, the company said today.
Chevron, the second largest oil company in the U.S., has already spent $15 billion during the last three years to buy back common shares. Under the announcement of the program, the company will make occasional acquisitions, which are subject to market conditions and other factors.
“We believe it is appropriate to return cash to our stockholders through share repurchases,” Chairman and CEO Dave O’Reilly said in a statement.
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GTL Ltd, India’s leading network services player, was given the Golden Peacock Global Award for Corporate Governance, at the 8th International Conference on Corporate Governance in London. The World Council for Corporate Governance in London gives the award annually to companies that demonstrate standards of corporate governance. Among the reasons cited by the jury for awarding this year’s prize to GTI was its disclosures, compliance, and voluntary audit of quarterly accounts, its board and corporate social responsibility activities, and its initiation of environment and corporate social responsibilities projects. Past award winners include Barclay’s, Coca-Cola, Deutsch Bank, and Pfizer.