Corporate Governance: TransAmerican Energy strives to maintain the highest standards of corporate governance, with a focus on a strong and diligent Board of Directors and transparency for shareholders. The Company has solid governance and disclosure practices, a commitment to continuously improve those practices, and an ethical corporate culture.
The Board of Directors is responsible for the oversight of the management of the Company's business and affairs. The Board has the statutory authority and obligation to protect and enhance the value of the Company, in the interest of all shareholders. Members of the Board of Directors, believe that good corporate governance contributes to the creation of shareholder value. In keeping with good corporate governance practices, our Board of Directors is committed to the following duties and responsibilities:
- approve, monitor and provide guidance on the strategic planning process. The President & CEO and senior management team have direct responsibility for the ongoing strategic planning process and the establishment of long-term goals for the Company, which are reviewed and approved not less than annually, by the Board of Directors
- identify the principal risks of the Company’s business and take reasonable steps to ensure the implementation of appropriate systems to manage and monitor these risks
- delegate to the President & CEO the authority to manage and supervise the business of the Company, including the making of all decisions regarding the Company’s operations that are not specifically reserved to the Board of Directors under the terms of that delegation of authority. The Board also determines what, if any, executive limitations may be required in the exercise of the authority delegated to management, and in this regard approves operational policies within which management will operate
- approve the Company’s strategic plans, annual budget and financial plans
- oversee the integrity of the Company’s internal control and management systems
- oversee effective communications with shareholders
Environmental Policy: TransAmerican Energy will protect the environment by working to minimize the impact of its drilling activities. The Company will strive for continuous improvement in environmental performance through effective project planning and implementation, emission reduction and waste minimization, careful waste management, and energy conservation. TransAmerican remains committed to responsible environmental business practices and see this as our duty, and one more example of providing exceptional shareholder value.
Ron Hughes, President & CEO
TransAmerican Energy Inc.