In This Section
Denbury believes that responsible and sustainable governance is essential to fulfilling our obligations to our stakeholders and operating as a good corporate citizen. The manner in which we conduct ourselves and our business operations directly affects our ability to sustain our business and operate responsibly. Our Board of Directors (“Board”) and senior management are highly focused on implementing corporate governance policies and practices that uphold our core values, align with our corporate governance commitments and support our business sustainability.
Governance of the Company
Denbury’s Chief Executive Officer (“CEO”) manages the Company’s business, property and affairs, under the direction of the Board. The Board has responsibility for establishing broad corporate guidelines and for overall performance and direction of the Company, but is not involved in day-to-day operations. Members of the Board are informed of the Company’s business by participating in Board and committee meetings, reviewing analyses and reports sent to them regularly, and through discussions with the CEO and other officers.
Board Leadership Structure
Dr. Kevin O. Meyers serves as Chairman of the Board (“Chairman”), and Christian S. Kendall serves as our President and CEO. The separation of the positions of CEO and Chairman allows our CEO to focus on the day-to-day leadership and performance of the Company and allows our Chairman to lead the Board in its fundamental role of providing advice and oversight to management. The Board believes our leadership structure is effective and appropriate, creates a separation of executive powers by providing a Chairman with whom the CEO can discuss issues facing the Company, and provides a significant voice to nonmanagement directors.
Corporate Governance Guidelines
Our Corporate Governance Guidelines address significant issues and set forth the procedures by which our Board carries out its responsibilities. The primary responsibility of the Board is the maximization of long-term stockholder value for the Company’s stockholders, with due regard for the Company’s employees and other stakeholders. Among the areas addressed by the guidelines are assessing risk, director qualifications, director responsibilities, selection and election of directors, director compensation and tenure, Board committee responsibilities, director orientation and continuing education, director access to management and independent advisors, succession planning, the number of Board meetings, and Board and committee performance evaluations. The Sustainability and Governance Committee is responsible for assessing and periodically reviewing the adequacy of these guidelines.