Concho

Governance

Sound Governance Practices

We believe a foundation of sound governance practices and year-round stockholder engagement are essential to protecting the long-term interests of our stockholders.

Board Structure

  • Strong, independent lead-director role
  • Four standing committees

Board Composition

  • Broad range of skills and experience
  • Diversity
  • Independence

Governance Practices

  • Candid board and committee performance evaluations
  • Oversight of CEO and management performance
  • Board and management succession planning

Stockholder Engagement

  • Consistent, year-round communication
  • Accessible
  • Inclusive

A Thorough Approach to Corporate Governance

Corporate governance is an important responsibility at Concho. Our governance policies and structure provide a strong framework for accountability and effective operations. They also provide assurance that we are ethical and transparent across all of our business endeavors.

Concho’s Board of Directors is responsible for risk oversight and plays a critical role in the development and implementation of our corporate governance policies. Our Board is made up of ten directors, seven of whom are independent under the current listing standards of the NYSE. The Board considers the diversity and optimal enhancement of the current mix of talent and experience with respect to its members.

The Board has four committees - Audit, Compensation, Nominating & Governance and Reserves. Each of the Audit, Compensation and Nominating & Governance committees are composed entirely of independent directors. The Board has an independent Lead Director who chairs executive sessions of the non-management directors and works closely with the Chairman to provide leadership and guidance to the Board.

Concho’s Board of Directors has adopted written charters for each of the four committees and various corporate governance policies. All of our committee charters and certain key corporate governance policies are published on this website under the Investors tab. The Board of Directors periodically reviews and will amend these charters and policies as necessary.