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 four are independent oil and gas businessmen: Donald Driscoll, Brian Lemke, Jeff Smith, and William Eeuwes; Kevin Adolphe serves as representative from Manulife; 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
Kevin J.E. Adolphe
Chairman of the Board
Mr. Adolphe holds several senior executive positions with Manulife Financial Corporation including President and CEO, Manulife Asset Management, and President and CEO of the Company’s global real estate arm, Manulife Real Estate. As President and CEO of Manulife Asset Management, 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 30 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 was formerly President of the Board with The Calgary Petroleum Club, past Director and Officer of the Oilmen’s, and held the position of Governor with 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
Chairman 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.
William J. Eeuwes
Member of Audit Committee
William (Bill) Eeuwes held the position of Senior Vice President and Global Head of Private Equity, Manulife Financial when he retired in April 2015. He had executive responsibility for four alternative asset teams, including: Manulife Capital in Canada and Hancock Capital Management Inc. in the USA (Private Equity & Mezzanine), Regional Power Inc.(Hydraulic Power), and NAL Resources Management Limited (Upstream Oil & Gas). Total AUM exceeded CAD $5 billion.
Since joining Manulife in 1999 to lead a private equity initiative in Canada, Manulife Capital has successfully made private equity investments in a broad range of industries including, manufacturing, retail, life sciences, financial services, real estate, and oil and gas. In 2002, Mr. Eeuwes also established a Project Finance team in Canada which focused on the underwriting of senior, mezzanine debt, and equity investments in the renewable energy and infrastructure sectors.
Prior to joining Manulife in 1999, Bill was a career banker with 20 years of experience in underwriting and managing a broad range of financing, including: LBO’s, corporate lending, and project finance. Bill is a graduate of the Richard Ivey School of Business, University of Western Ontario in London, and he is a member of the Institute of Corporate Directors.
Bill is a current and past director of several public companies including; Canaccord Genuity Group Inc. (since June 2002), Seamark Asset Management Ltd. (August 2006 – August 2010), NAL Energy Corp. (February 2009 – May 2012), Golf Town Limited (June 1999 – November 2004), and VFC Inc. (July 2004 to April 2006). In addition to his role at HNRG, he is also a current and past director of several other private Canadian companies in healthcare, hydro electric power, manufacturing, infrastructure, and investments.
Kevin L. Stashin, P.Eng.
President & Chief Executive Officer
Mr. Stashin joined NAL Resources in August 2012 and is President and CEO. Kevin has over 34 years of industry experience with junior and major oil and gas companies and previously 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.
Kevin graduated from McGill University with a P. Eng. and holds an MBA from the University of Calgary. He is a professional member of APEGA, APEGS, and the Society of Petroleum Engineers. Mr. Stashin serves on the Board of Governors with the Canadian Association of Petroleum Producers (CAPP), as well as industry boards such as the Petroleum Technology Alliance of Canada (PTAC). Previously, Kevin was the oil and gas industry representative with the Alberta Water Council, was Chair of the Board for the Calgary French & International School, and was incoming Chair of the Petroleum Society of CIM.