CALGARY, April 11, 2019 /CNW/ - Crescent Point Energy
Corp. ("Crescent Point" or the "Company") (TSX and NYSE: CPG) is
pleased to announce that James E. ("Jim")
Craddock and Jennifer F.
Koury will stand for election to its Board of Directors (the
"Board") at the Company's upcoming Annual General Meeting
("AGM").
"We're excited about having both Jim and Jennifer stand as new
independent nominees," said Bob
Heinemann, Chairman of the Board. "Through our search
process, it was evident that their extensive backgrounds and
industry experience complemented our Board's existing skillset.
Jim's strong leadership and broad-based technical knowledge along
with Jennifer's significant human resources and governance
experience will be invaluable as we continue to execute our
transition plan."
Mr. Craddock has served on Noble Energy Inc.'s Board of
Directors since its merger with Rosetta Resources Inc. in 2015 and
served as the Chairman, Chief Executive Officer and President of
Rosetta from 2013 to 2015. Mr. Craddock is currently a member of
Noble's Compensation and Corporate Governance and Nominating
committees and is Chair of the Safety, Sustainability and Corporate
Responsibility Committee. Previously, he was the Executive Director
and Chief Operating Officer for BPI Industries Inc. and held
several positions of increasing responsibility over a 20-year
career at Burlington Resources Inc. He holds a Bachelor of Science
in Mechanical Engineering from Texas A&M
University.
Ms. Koury has over 35 years of professional experience, holding
various senior executive positions with BHP Billiton from 2011 to
2017. Part of her responsibilities included the development of BHP
Billiton's total rewards program for executives and employees of
the Petroleum World-Wide Business. Prior to that, she was Vice
President of Corporate Services for Enerplus Corp. from 2006 to
2011 and also held senior management positions with Imperial
Oil/Exxon Mobil. Ms. Koury serves as a Director for the Calgary Zoo
and is Chair of the first public/private partnership for the United
Nations Women Global Innovation Coalition for Change. She holds a
Bachelor of Commerce Degree from the University of Alberta and holds the ICD.D directors
designation from the University of
Toronto.
As previously announced, Peter
Bannister and Gerald A.
Romanzin will be retiring from Crescent Point's Board at its
upcoming AGM. Since the announcement of Crescent Point's transition
plan in September 2018, the Company's
Board renewal process has included the appointment of Bob Heinemann as Chairman, John Dielwart as a new independent director and
the nomination of Jim Craddock and
Jennifer Koury as additional
independent directors. Following the upcoming AGM, the Company will
have undergone a complete Board renewal since 2014.
"On behalf of Crescent Point and our Board, I thank Peter and
Gerry for their significant contributions," said Heinemann. "Their
leadership and guidance helped shape the Company to become one of
Canada's largest light oil
producers. We wish them all the best in their future
endeavours."
Crescent Point is a leading North American light oil producer,
driven to enhance shareholder returns by cost-effectively
developing a focused asset base in a responsible and sustainable
manner.
Forward-Looking Statements and Other Matters
Certain statements contained in this press release constitute
"forward-looking statements" within the meaning of section 27A of
the Securities Act of 1933 and section 21E of the Securities
Exchange Act of 1934 and "forward-looking information" for the
purposes of Canadian securities regulation (collectively,
"forward-looking statements"). The Company has tried to identify
such forward-looking statements by use of such words as "could",
"should", "can", "anticipate", "expect", "believe", "will", "may",
"intend", "projected", "sustain", "continues", "strategy",
"potential", "projects", "grow", "take advantage", "estimate",
"well-positioned" and other similar expressions, but these words
are not the exclusive means of identifying such statements.
In particular, this press release contains forward-looking
statements pertaining, among other things, to: Mr. Craddock and Ms.
Koury standing for election to the Board; the successful election
of Mr. Craddock and Ms. Koury to the Board and the anticipated
benefits to Crescent Point; planned retirements; and the
anticipated timing for the Board to have undergone a complete
renewal.
All forward-looking statements are based on Crescent Point's
beliefs and assumptions based on information available at the time
the assumption was made. The Company believes that the expectations
reflected in these forward-looking statements are reasonable but no
assurance can be given that these expectations will prove to be
correct and such forward-looking statements included in this report
should not be unduly relied upon. By their nature, such
forward-looking statements are subject to a number of risks,
uncertainties and assumptions, which could cause actual results or
other expectations to differ materially from those anticipated,
expressed or implied by such statements. Readers are cautioned not
to place undue reliance on this forward-looking information, which
is given as of the date it is expressed herein or otherwise.
Crescent Point undertakes no obligation to update publicly or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, unless required to do so
pursuant to applicable law. All subsequent forward-looking
statements, whether written or oral, attributable to Crescent Point
or persons acting on the Company's behalf are expressly qualified
in their entirety by these cautionary statements.
ON CRESCENT POINT ENERGY, PLEASE CONTACT:
Brad Borggard, Senior
Vice President, Corporate Planning and Capital Markets, or
Shant Madian, Vice
President, Investor Relations and Corporate Communications
Telephone: (403) 693-0020 Toll-free (US and Canada): 888-693-0020 Fax: (403)
693-0070
Address: Crescent Point Energy Corp. Suite 2000, 585 - 8th
Avenue S.W. Calgary AB T2P
1G1
www.crescentpointenergy.com
Crescent Point shares are traded on the Toronto Stock Exchange
and New York Stock Exchange under the symbol CPG.
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SOURCE Crescent Point Energy Corp.