Summary
Diamondback Energy, Inc. (FANG) announced on July 11, 2022, the appointment of two new independent directors, Rebecca A. Klein and Frank D. Tsuru, to its Board of Directors, effective July 7, 2022. This expansion brings the total number of directors to ten and is intended to enhance the board's expertise and governance. Both Ms. Klein and Mr. Tsuru bring extensive experience in the energy sector, regulatory affairs, and corporate governance, which is expected to be valuable as the company navigates the dynamic oil and gas landscape. The appointments are part of a broader strategy to strengthen board oversight and ensure alignment with long-term strategic goals. The new directors will serve until the 2023 Annual Meeting of Stockholders and will receive standard compensation for non-employee directors, prorated for their service period. They are also expected to be appointed to board committees in the near future. This move signals a commitment to robust corporate governance and leveraging diverse industry experience at the highest level of the organization.
Key Highlights
- 1Appointment of two new independent directors: Rebecca A. Klein and Frank D. Tsuru.
- 2The Board of Directors has been expanded to ten members.
- 3Both new directors bring substantial experience in the energy industry, consulting, and regulatory affairs.
- 4Ms. Klein has a background in energy consulting, public utility regulation, and corporate boards, including energy and water utilities.
- 5Mr. Tsuru has extensive experience in the midstream sector, having co-founded Momentum Midstream and previously founded other energy companies.
- 6The new directors will serve until the 2023 Annual Meeting of Stockholders.
- 7The appointments are designed to strengthen board oversight and governance.