The Rockhopper board comprises eight directors; a non-executive chairman, three executive directors and four non-executive directors, one of whom acts as senior independent director. Four of the non-executive directors are considered to be independent. Recent Board changes include the promotion of Fiona MacAulay to COO, the appointment of Stewart MacDonald as CFO and the appointment of two new non-executive directors, Keith Lough and John Summers, in place of two non-executive directors who had been with the Company for nearly nine years. The non-executive directors have a range of technical, financial, legal and operational experience which is relevant to the management of the company.
The board is responsible to shareholders for the creation and protection of shareholder value. The board retains full and effective control over the company and it has a schedule of matters reserved for its approval covering strategy, key financial and compliance matters, significant operational and management matters including HSE. There are clearly defined lines of responsibility and executive management has a number of financial and operational responsibilities delegated to it.