Kampac Group Board of Directors currently includes Charles Ampofo, Rodney Whitney and Pekka Rautimo. The shareholders elect the Board of Directors. The primary role of the Board is to assume overall responsibility for the stewardship of the Company and overseeing the activities of management in order to ensure that the Company and the investors’ long-term interests are being served. Kampac has to review its current Board of Directors with respect to their experiences and capabilities of providing Kampac with its stewardship, governance,and management ofthe business enterprise.
Board committees are also established to provide risk oversight. Risks can be wide-ranging and include, for example, financial reporting, reputation, litigation, ethics, and technology. Every public company has an audit committee, compensation committee, and nominating committee. Audit committee provides oversight of the financial reporting process; the compensation committee reviews the CEO and non-CEO officers and directors’ compensation, incentive plans, and equity-based plan; and the nominating committee identifies individuals qualified for new nominees to the board.
The Board members have worked together as Board and executive team for years on numerous startups, mergers, and acquisitions, and in the recent past, successfully built, operated, and sold a high growth technology company of over 700 employees. Kampac Group maintains a small management team for its oil trading operations, and contracts out certain technical and administrative functions on an as-needed basis in order to conduct its investment project activities, including seismic testing, drilling, oil field development, etc. The Management Team will select and hire these contractors and manage and evaluate their work performance. To develop the business, the Company will endeavor to use the business relationships of its management and Board of Directors to enter into strategic relationships, which may take the form of joint ventures with private parties and contractual arrangements with other oil and gas companies, including those that supply equipment and other resources that the Company expects to use in its business.