Awarded Best AIM Company 2016

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Corporate Governance

Corporate Governance

Sound Energy’s success is fundamentally linked to good governance and we remain committed to achieving high standards in all we do. Our business and processes are aligned around a robust governance framework. We support the principles of the UK Corporate Governance Code and are committed to applying these principles as far as practicable, having regard to the current size and structure of the Company, and the requirements of the AIM market of the London Stock Exchange.

While building a strong governance framework we also try to ensure that we take a proportionate approach and that our processes remain fit for purpose as well as embedded within the culture of our organisation. We continue to evolve our approach and make ongoing improvements as part of building a successful and sustainable company.

Good governance provides a framework that allows the right decisions to be taken by the right people at the right time.

The Board

James Parsons
Chief Executive Officer

Stephen Whyte
Chairman

Marco Fumagalli
Director (Non-Executive)

Richard Liddell
Director (Non-Executive)

Mohammed Benslimane
Director (Non-Executive)

The Board retains ultimate accountability for governance and is responsible for monitoring the activities of the Executive Team.The Chairman has the responsibility of ensuring that the Board discharges its responsibilities. No one individual has unfettered powers of decision. The roles of Chairman and Chief Executive Officer are split in accordance with best practice.

Board composition %

Corporate Governance Pie Chart

Executive Committee

James Parsons (Chief Executive Officer)

Brian Mitchener (Executive Vice President, Exploration)

Leonardo Spicci (Executive Vice President, Development & Production)

Luca Madeddu (Managing Director, Morocco)

Leonardo Salvadori (Managing Director, Italy)

Mary Hood (Executive Vice President, Finance CFO)

Will Holland (Executive Vice President Business Development)

Country & Project Oversight

Leadership & Functional Oversight

The Executive Team supports the Chief Executive Officer and Board decision making, particularly around assurance at project decision gates and new business opportunities. It is accountable for implementation of key strategic building blocks and the performance of the business, designing and implementing the culture and tone of the organisation as well as the sharing of information across the business.

Committees

Stephen WhyteStephen Whyte

Remuneration and Nominations Committee

Stephen Whyte (Chair)

Marco Fumagalli

Richard Liddell

The Committee meets to consider all material elements of remuneration policy, including Directors’ remuneration, assessing Directors’ performance, planning succession for the Chairman and Chief Executive and for new nominees to the Board.

Marco FumagalliMarco Fumagalli

Audit Committee

Marco Fumagalli (Chair)

Stephen Whyte

The Committee’s role is to monitor:

  • the integrity of the Company’s financial statements and other formal announcements relating to the Company’s financial performance;
  • the effectiveness of the risk management and internal control systems including the result of reviews of the system and management’s response to review findings;
  • the appropriateness of the Company’s relationship with the external Auditor and the objectivity of the audit process;
  • the enforcement of the Company’s code of conduct and the adequacy and security of the whistleblowing procedure and anti-bribery and corruption policy.

The Audit Committee may if it wishes hold private sessions with management and the external Auditor.

Richard LiddellRichard Liddell

Health and Safety Committee

Richard Liddell (Chair)

Luca Madeddu

Leonardo Spicci

Leonardo Salvadori

The committee is primarily focused on ensuring that the HSE policies are are adopted and applied across the Group.