Board Committees

Remuneration Committee

The tasks of the Remuneration Committee is to consider Awilco Drilling’s remuneration policy and programs, including bonus programs, share-based compensation and present recommendations to the Board of Directors for decision. The committee evaluates annually the CEO’s and the Key Management’s remuneration and present recommendations to the Board of Directors for decision. Current members of the Remuneration Committee are Mr Sigurd E. Thorvildsen (Chairman of the Committee), Mr Dan Gold (member) and Mr Henrik Fougner (member).

 

Audit Committee

The tasks of the Audit Committee are to monitor the financial reporting process, monitor the effectiveness of internal control and risk management, to have regular communication with Awilco Drilling’s external auditor regarding the auditing of the financial statements and evaluate and oversee the auditor’s independence. The Audit Committee is composed of two members of the Board, and its members are currently Mr John Simpson (Chairman of the Committee) and Henrik Fougner (member).

 

Nomination Committee

The Nomination Committee nominates shareholder representatives to the Board of Directors. The Directors of the Board are elected by the General Meeting of Shareholders.  The committee has two members who are elected directly by the General Meeting of Shareholders. Current members of the Nomination Committee are Mr Tom Furulund (Chairman of the Committee) and Mr Henrik Christensen (member).