Engineered environmental solutions company, Newalta Corporation, has nominated two new directors for election to the Board of Directors at the May 7, 2014 Annual and Special Meeting of Shareholders:
Harvey Doerr, 55, retired in 2009 as executive VP of Arkansas-based Murphy Oil Corporation. With more than 28 years in the oil and gas industry, his experience includes broad exposure to domestic and international exploration and production, heavy oil oilsands, offshore, refining, retail marketing, acquisition and divestiture, strategic planning and government relations. At Murphy, Doerr was responsible fo worldwide refining and marketing operations and strategic planning. Doerr is also on the Board of MEG Energy Corp. of Calgary, which is actively developing enhanced oil recovery projects in Alberta tha utilize steam-assisted gravity drainage extraction methods.
Robert Gemmell, 57, was president and CEO of Citigroup Global Markets Canada and its predecessor companies (Salomon Brothers Canada and Salomon Smith Barney Canada) from 1996 to 2008. In addition, he was a member of the Global Operating Committee of Citigroup Global Markets from 2006 to 2008. Citigroup is one of the world’s largest banks, with approximately 200 million customer accounts. Gemmell is a director of Agnico Eagle Mines Limited, one of the world’s largest gold mining companies.
“Harvey Doerr and Robert Gemmell bring deep and relevant experience to Newalta,” said Barry Stewart, Chair of the Board, in an April 10, 2014 statement. “We are nominating them as part of an orderly board renewal and succession process that began over a year ago and that has included the appointments during the past year of directors Mike Starzer and Laurie Tugman, who bring meaningful experience, respectively, in the U.S. oil and gas and environmental services sectors,” he added.
Composition and size of the Board of Directors are reviewed annually. As result of the review and to allow for an effective transition between outgoing and incoming Board members, the Board of Directors appointed Mr. Starzer to the Board in May 2013 and Mr. Tugman to the Board in September 2013. Mr. Doerr and Mr. Gemmell were identified as additional nominees with skills and experiences consistent with advancing Newalta’s growth initiatives.
Through the Board renewal process, three directors have indicated an intention to retire from the Board at or prior to the 2015 annual general meeting of shareholders.
Newalta consulted with certain major investors, including Orange Capital, LLC, and respected their views in the development of Newalta’s plans as they relate to the board renewal process.