Corporate Governance

Overview

The Ranger Offshore Board recognizes the importance of good Corporate Governance and is committed to business integrity and high ethical values across the Group's activities, which it views as an integral part of managing the Group's business.

Role of the Board

The Board sets the Group's strategic aims, ensuring that the necessary resources are in place to achieve those aims and reviews management and financial performance. It is accountable to shareholders for the creation and delivery of strong, sustainable financial performance and long-term shareholder value. To achieve this, the Board directs and monitors the Group's affairs within a framework of controls which enable risk to be assessed and managed effectively through clear procedures, lines of responsibility and delegated authorities. The Board also has responsibility for setting the Group's core values and standards of business conduct and for ensuring that these, together with the Group's obligations to its stakeholders, are widely understood throughout the Group.

The core activities of the Board of Directors are to:

  • Establish the overall strategy of the Company and oversee its execution
  • Review and monitor the appropriate corporate financing arrangements for the Company
  • Approve the financial statements and dividend policy of the Company
  • Identify and monitor the principal risks facing the business and ensure the implementation of appropriate and effective risk management and internal control systems
  • Review and approve the execution of acquisitions and divestments, annual budgets, major capital expenditure investments and material contracts
  • Set the corporate polices of the Company
  • Supervise performance and succession planning for the Company’s Executive Officers and members of the Board
  • Ensure integrity and continuity in the governance of the Company and compliance with appropriate laws and regulations

The main activities of the Board are undertaken in scheduled meetings that are timed to coincide with key events in the annual corporate calendar.  Additional meetings and conference calls, as well as operational site visits are carried out to consider specific matters that require decisions outside of the usual schedule.

 

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