NAL has been a leader in establishing good corporate governance practices which are designed to align the interests of management and its owner, Manulife.
The Board of Directors is responsible for the stewardship of the Company’s business. The primary responsibilities of the Board of Directors are to:
- Approve the strategy of NAL to ensure the long-term success of the Company;
- Oversee the business affairs of NAL in accordance with the terms of all applicable agreements and laws;
- Monitor the manager to ensure that it meets its duties and responsibilities under investment management agreements.
The Board of Directors is also responsible for developing NAL's approach to governance. There are currently six members of Board of which three are independent oil and gas businessmen: Donald Driscoll, Brian Lemke, and Jeff Smith; two representatives from Manulife: William Eeuwes and Kevin Adolphe; and Kevin Stashin, President & CEO of NAL Resources.
NAL has established committees to assist the Board of Directors in carrying out its oversight responsibility as it relates to matters of the Company, the committees are:
- Audit Committee
- Corporate Governance and Compensation Committee
- Health, Safety and Environment, and Reserves Committee
William J. Eeuwes
Chairman of the Board, Member of Audit Committee
Mr. Eeuwes currently holds the position of Senior Vice President and Managing Director of Manulife Capital, a business unit of The Manufacturers Life Insurance Company. He has executive responsibility for leading Manulife’s Canadian Private Equity, Project Finance and Infrastructure, Hydraulic Power Development, and Oil & Gas teams. He has 30 years of experience in private equity, project finance and corporate banking. He is a graduate of the Richard Ivey School of Business of the University of Western Ontario. He is a Director of Canaccord Financial Inc. and a past Director of NAL Energy Corporation, MATRIX Asset Management Inc. and VFC Inc. and is a Director of several other private companies. He is a member of the Institute of Corporate Directors.
Kevin J.E. Adolphe
Chairman of Audit Committee
Mr. Adolphe holds several senior executive positions with Manulife Financial Corporation including Chief Operating Officer of Investments, and President and CEO of the Company’s global real estate arm, Manulife Real Estate. As COO of Investments for Manulife Financial, Kevin has overall responsibility for all finance, market risk management, securities operations, mortgage administration, derivatives and middle office operations, systems and functions in offices spanning Toronto, Boston, Asia and the United Kingdom. As President and CEO of Manulife Real Estate, Kevin has overall accountability for the strategic management and operations of Manulife’s extensive and diversified portfolio of prime office and industrial properties in key metropolitan centers throughout Canada, the United States and Asia. Kevin is a graduate of the University of Toronto and holds designations from both the Canadian and Ontario Institutes of Chartered Accountants. He is a member of the Canadian Institute of Certified Management Consultants as well as the Institute of Corporate Directors and a member of the Ontario Chapter of Young Presidents’ Organization (YPO).
Donald P. Driscoll
Chairman of Corporate Governance & Compensation Committee, Member of Health, Safety, Environment and Reserves Committee
Mr. Driscoll brings over four decades of diverse corporate experience and more than 15 years of oil and natural gas investment management expertise. NAL Resources Management Limited was conceived by Mr. Driscoll in 1989 and he held the position of President, Chief Executive Officer and Director from 1989 to 2005. Don successfully led a $135 million IPO of NAL and subsequently, two public financings totaling $65 million. By 2005, the assets managed by NAL Resources Management exceeded $2 billion. Mr. Driscoll is a past President of the Board of the Calgary Petroleum Club, been an active Director and Officer of the Oilmen’s and past Governor of the Canadian Association of Petroleum Producers (CAPP). Mr. Driscoll holds a B.Sc. in Physics from St. Francis Xavier University and an MBA from the University of Western Ontario.
Chairman of Health, Safety, Environment & Reserves Committee, Member of Corporate Governance & Compensation Committee
Jeffrey Smith is an independent businessman and investor. He has over 40 years of oil and gas industry experience and has held various senior positions and is a former COO of Northstar Energy (now Devon) which grew from 600 to over 25,000 boe per day. He also has 15 years’ experience serving as a director of a number of private and public oil and gas related companies including Tethys Energy, Compton Petroleum Corp., Resolute Energy Inc., Provident Energy Ltd. and Chair of Intrepid Energy Ltd. He currently serves on the board of Pembina Pipeline Corporation and Pace Oil and Gas. Mr. Smith graduated from the University of Ottawa with an Honours BSc Geology and is a member of The Association of Professional Engineers and Geoscientists of Alberta.
Brian K. Lemke
Member of Audit Committee
Mr. Lemke is an independent investor and corporate director. He is presently Chairman of the Board of Laricina Energy Ltd., a private oil sands company. He is a Chartered Accountant with over 25 years of experience in the oil and gas industry. Previously, Mr. Lemke served as a Chairman and Director of Cordero Energy Inc., founder, CEO and director of Resolute Energy Inc., director of Deer Creek Energy Limited, Chief Financial Officer of Crestar Energy Inc., Senior Vice President and Chief Financial Officer of HCO Energy Limited and Vice President Finance of Northstar Energy Corporation. He also served as director of YMCA Calgary from 2004 to 2011, the last two years as Chair of the Board.
Kevin L. Stashin, P.Eng.
President & Chief Executive Officer
Mr. Stashin has over 30 years of industry experience with junior and major oil and gas companies and most recently he served as Vice President, Exploitation at Devon Canada Corporation. During his tenure at Devon, Kevin had oversight in areas of capital budget, exploitation, drilling and completions, and acquisitions and divestitures. His career at Devon began in 1992 with predecessor Anderson Exploration Ltd. where he quickly rose within the organization to Vice President, Operations. Prior to that, Kevin enjoyed an 11 year career at Petro Canada in various operations and engineering roles.
Mr. Stashin graduated from McGill University with a B. Eng. and holds an MBA from the University of Calgary. He is a member of APEGGA and the Society of Petroleum Engineers. Kevin also serves on professional and interest related associations, and industry boards such as Petroleum Technology Alliance of Canada (PTAC).