GeoPark Co-Founder and Former Chairman Gerald O’Shaughnessy Issues Investor Presentation and Announces Highly Qualified Potential Director Candidates for the Board
Also Details Need for Independent Directors Who Will be Objective Advocates for Shareholders as the Company Navigates Economic and Strategic Challenges Ahead
Board Must Strengthen Oversight of Management in Order to
Outlines Why Shareholders Should Vote AGAINST Four Company Nominees at Upcoming Annual Meeting
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Mr. O’Shaughnessy also announced three additional highly qualified candidates for consideration for the GeoPark Board – each of whom would bring significant relevant experience and valuable independent perspectives to the Company. These potential nominees include:
Rick Grafton– Mr. Graftonis an experienced oil and gas industry executive with prior relevant board experience.
- Co-founder, current CEO and CIO of Grafton Asset Management
Former board member of oil and gas companies
Gallic Energy Ltd.and Mena Hydrocarbons
Co-founder and former managing director of
FirstEnergy Capital, a leading independent energy-focused investment bank in Canada
Louis R. Hughes– Mr. Hugheshas served as a board member of 12 multibillion-dollar companies in eight different countries and is a financial/accounting and corporate governance expert.
- Chairman of the board of directors of InZero Systems
Former president and COO of
(NYSE: LMT) and former EVP of Lockheed Martin Corp. General Motors Corp.(NYSE: GM)
Additional board experience includes:
Nokia Corp.(NYSE: NOK), Deutsche Bank(NYSE: DB), and (NYSE: ABB) where he served as chairman of the ABB Ltd. Finance, Audit & Compliance Committeefor seven years
Greg Pratt– Mr. Pratthas deep technology, corporate governance and prior board experience.
Non-executive chairman and former CEO and president of
(NYSE: CRS) Carpenter Technology Corp.
Lead director, chairman of the
Corporate Governance Committee of(NYSE: TG), and board member of Tredegar Corp. Anterix, Inc.(NASDAQ: ATEX)
Former director and chairman on local chapter board of
National Association of Corporate Directors(NACD) and former member of the Standing Advisory Group of the Public Company Accounting Oversight Board(PCAOB)
- Non-executive chairman and former CEO and president of
These nominees have been identified by Mr. O’Shaughnessy and his team, are totally independent of Mr. O’Shaughnessy and, in the cases of
Mr. O’Shaughnessy stated:
“As our presentation highlights, it is time for shareholders to signal to the GeoPark Board that the status quo – characterized by a CEO-dominated strategy and lack of transparency – cannot continue. I urge all shareholders to vote against incumbent directors Bedingfield, Papadimitriou, Aylwin and Park to pave the way for necessary Board refreshment. Each of these individuals has been responsible for perpetuating the deep-seated corporate governance issues at
The three individuals I would put forward as potential directors in addition to myself are all highly accomplished veterans with industry expertise, strategy, shareholder value creation and good corporate governance. Their interest in serving on the GeoPark Board is a testament to the significant opportunities for success they see at the Company. Against the backdrop of a rapidly changing industry, shareholders would benefit greatly from an improved Board that would consider all strategic alternatives and address the challenges facing
A vote AGAINST four incumbent directors is a vote to send a message that change is needed on the Board at
VOTE AGAINST FOUR GEOPARK DIRECTOR NOMINEES TO SIGNAL THAT YOU DEMAND CHANGE IN ORDER TO PROTECT YOUR INVESTMENT