The Board of Directors is responsible for developing NAL's approach to governance. There are currently six members of the Board, including four independent oil and gas businessmen; a representative from Manulife; and NAL’s President & CEO.
NAL has established corporate governance practices which have been 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.
NAL has established committees to assist the Board of Directors in carrying out its oversight responsibility as it relates to matters of the Company.
NAL’s committees are listed below:
- Audit Committee
- Corporate Governance and Compensation Committee
- Health, Safety and Environment, and Reserves Committee
William J. Eeuwes
Board Chairman, 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 and mezzanine debt, and equity investments in the renewable energy and infrastructure sectors.
Prior to joining Manulife in 1999, Mr. Eeuwes was a career banker with 20 years of experience in underwriting and managing a broad range of financing, including: LBOs, corporate lending, and project finance. Mr. Eeuwes 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.
Mr. Eeuwes is a current director ofHancock Natural Resources Group Inc. and a member of its investment and ethics committees and a director of Regional Power Inc. 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 was a past director of several other private Canadian companies in healthcare, manufacturing, infrastructure, and investments.
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
Mr. 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 of 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. Mr. Smith graduated from the University of Ottawa with an Honours B.Sc. Geology and is a member of The Association of Professional Engineers and Geoscientists of Alberta.
Brian K. Lemke
Chairman of Audit Committee, Member of Health, Safety, Environment & Reserves 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. and Laricina Energy Ltd., 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 he served as Chair of the Board.
Member of Audit Committee, Member of Corporate Governance and Compensation Committee
Trevor Kreel holds the position of Global Head of Portfolio Management and is responsible for Portfolio Management of the U.S., Canadian and Asia General Account assets as well as the Global Variable Annuity Hedging program. Prior to this role, Trevor led the Global Asset Liability Management group, with responsibility to ensure asset and liability investment related risks were identified, measured and managed and that appropriate investment and hedging strategies were executed effectively in Manulife businesses around the world.
Since joining Manulife in 1995, Trevor has also been the CFO of the Hong Kong business unit and prior to that was Vice President, Regional Actuarial in Hong Kong for three years. He also led the Structured Reinsurance group within Manulife’s Reinsurance Division and had a variety of financial roles within the US Insurance business unit.
Trevor received a Bachelor of Business Science degree and Post Graduate Diploma in Actuarial Science from the University of Cape Town and subsequently qualified as an Actuary through the Faculty of Actuaries in Edinburgh. He is also a Fellow of both the Canadian Institute of Actuaries and the Society of Actuaries in the U.S.
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 35 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 B. 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 currently serves as Chair of the Petroleum Technology Alliance of Canada (PTAC) and is a member of the Board of Governors with the Canadian Association of Petroleum Producers (CAPP). Previously he was a Director of the Petroleum Society of CIM, was the oil and gas industry representative with the Alberta Water Council and served as Chair of the Board for the Calgary French & International School.