Corporate Governance

Code of Business Conduct and Ethics

Introductory Letter

Governance
At VAALCO good corporate governance is part of our culture and a guiding principle to always promote the best interests of the shareholders at every level of the organization, including our Board, the Management Team and our employees. The Directors are committed to maintaining high standards of corporate governance in conducting its business, and to interact with its shareholders, employees, business partners, governmental entities, the public and our communities in a responsible, ethical and lawful manner.

Governance at a Glance

Chair
Member
Board Members Audit Compensation Nominating and Corporate Governance

Andrew L. Fawthrop

Cary Bounds

Steven J. Pully

Williams R. Thomas

A. John Knapp, Jr.


Andrew L. Fawthrop

Andrew L. Fawthrop

Mr. Fawthrop has served on the Board since October 2014 and as the Chairman of the Board since December 2015. Mr. Fawthrop has deep and broad-based experience in the oil and gas industry, including in West Africa, having served for 37 years with Unocal Corporation and Chevron Corporation (following its acquisition of Unocal in 2005) in a vast number of international leadership positions. Most recently, from January 2009 until his retirement in 2014, Mr. Fawthrop served as Chairman and Managing Director for Chevron Nigeria. Prior to his assignment in Nigeria, Mr. Fawthrop served as President and Managing Director for Unocal/Chevron Bangladesh from 2003 until 2007.

In his professional career, Mr. Fawthrop held various positions of increasing responsibility for exploration activities around the world in geographies including China, Egypt, Indonesia, South America, Africa, Latin America, and Europe. Mr. Fawthrop served as a Member of the Advisory Board of Eurasia Group. He served as a Director of Hindustan Oil Exploration Co. Ltd. from 2003 to 2005. He was an active member of the United States Azerbaijan Chamber of Commerce, the Asia Society of Texas and the Houston World Affairs Council.

Mr. Fawthrop holds a Bachelor of Science in Geology and Chemistry and a Masters degree in Marine Geology from the University of London.

Cary Bounds

Cary Bounds

Mr. Bounds was appointed Chief Executive Officer on December 29, 2016 after having served as the Chief Operating Officer for VAALCO since July, 2015 as well as interim Chief Executive Officer since September 1, 2016. Mr. Bounds has held a variety of technical and management positions of increasing responsibility with major energy companies as well as independent E&P companies.

Prior to joining the Company, Mr. Bounds was Business Unit Manager and Vice President, Noble Energy Equatorial Guinea Limited from May 2013 until July 2015. Earlier in his tenure with Noble, Mr. Bounds held the position of North Sea Country Manager from April 2010 until May 2013. Prior to Noble, Mr. Bounds was the Engineering and Planning Manager, Worldwide for Terralliance Technologies, Inc. from 2007 to 2010 and served as their Country Manager in Mozambique from 2007 to 2010. Mr. Bounds was with SM Energy from 2004 to 2007 and held the position of Engineering Manager for their Gulf Coast and Permian regions. Mr. Bounds spent five years with Dominion E&P serving in corporate development, planning and reservoir engineering positions. Mr. Bounds began his career with ConocoPhillips in 1991 where he held a variety of reservoir and production engineering positions in U.S. onshore regions.

Mr. Bounds holds a Bachelor of Science Degree in Petroleum Engineering from Texas A&M University.

Steven J. Pully

Steven J. Pully

Mr. Pully has served on the Board since July 2015. Mr. Pully has over 30 years of experience in capital markets, finance, investing and legal matters. He also has extensive board participation and leadershipexperience, having served in a variety of roles on fifteen boards including EPL Oil & Gas, Inc., where he was the lead independent director at the time of the company’s sale. Mr. Pully is currently on the board of Bellatrix Exploration, a public Calgary-based oil and gas producer and Aspire Holdings (formerly Endeavour International), a private North Sea oil and gas producer.

From 2008 until 2014, Mr. Pully served as General Counsel and Partner of the investment firm, Carlson Capital, L.P. Mr. Pully previously was an investment banker, serving as a Managing Director in the energy and power investment banking division of Bank of America and as a Senior Managing Director in the natural resources investment banking department of Bear Sterns & Company. Mr. Pully began his career as an attorney with Baker Botts LLP in Houston.

Mr. Pully holds a Bachelor of Science in Accounting from Georgetown University and a J.D. from The University of Texas School of Law. Mr. Pully is a Chartered FinancialAnalyst, a Certified Public Accountant in the State of Texas and a member of the State Bar of Texas.

Williams R. Thomas

Williams R. Thomas

Mr. Thomas joined the Board in April 2019. Mr. Thomas has over 30 years of experience in the international energy industry as a senior executive, investment banker and entrepreneur. In 1982, Mr. Thomas joined the International Division of Pennzoil Company. In 1986, Mr. Thomas entered investment banking with the Mergers & Acquisitions Department at Bankers Trust Company where he represented energy clients in major transactions. Mr. Thomas later served as CEO and in other senior executive capacities for companies with petroleum operations in Russia and Kazakhstan.

During his career, Mr. Thomas has successfully built, managed and monetized several emerging-market oil companies. In 2001, he was a founder and appointed CEO of Urals Energy N.V. which became Russia’s largest independent oil company. He later was a founder and CEO of Urals Energy Public Company Ltd. and led the company to a successful IPO on London’s AIM stock exchange in 2005. Since 2010, through his wholly-owned entity, Texas Oceanic Petroleum Co., Mr. Thomas has negotiated transactions involving exploration and production companies around the world including in West Africa.

Mr. Thomas graduated from the University of Texas at Austin with a B.A. in Economics.

A. John Knapp, Jr.

A. John Knapp, Jr.

Mr. Knapp has served on the Board since December 2015. Mr. Knapp is a Partner at CCM Opportunistic Advisors, LLC, an investment fund in Houston Texas, a position he has held since March 2011. He also serves as the President, Chief Executive Officer, and principal stockholder of Andover Group, Inc., a real estate investment and development company he founded in 1978. Mr. Knapp currently serves on the board of directors of ATRM Holdings, Inc. (NASDAQ:ATRM) which he joined in April 2015, and previously served on from January 2013 until March 2013. He also serves as a director of On Track Innovations Ltd. (NASDAQ: OTIV), and has served since December 2012.

Previously, Mr. Knapp served as the Chief Executive Officer and a director of ICO, Inc. (NASDAQ: ICOC), from October 2005 to April 2010. Mr. Knapp is a Chartered Financial Analyst and is currently a trustee of Transylvania University in Lexington, Kentucky.

Mr. Knapp holds a Bachelor of Arts from Williams College.

Board of Directors

Meet our Board of Directors and view their bios

View Board of Directors

Board Committees

View Committee Composition and Committee Charters

View Board Committees

Governance Documents

Guidelines, Charters, and other Governance-related documents

View Documents
Translate »