GeoPark Provides an Update on Its Board of Directors

Rhea-AI Summary

GeoPark Limited (NYSE: GPRK) has announced the retirement of Board member Pedro Aylwin, effective December 31, 2021. Aylwin served as Head of Legal and Governance since 2011 and contributed to the company’s governance improvements and growth. The Board will not replace him, reducing its size to six members and increasing the independent member majority to 66.6%. Chairman Sylvia Escovar expressed gratitude for Aylwin's contributions, wishing him well in future endeavors.

Positive

• Increased independent Board member majority to 66.6%, enhancing corporate governance.

Negative

• Concerns regarding continuity and experience gaps with the retirement of a long-serving Board member.

BOGOTA, Colombia--(BUSINESS WIRE)-- GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator today provides an update on its Board of Directors.

GeoPark announces a change to its Board of Directors with the retirement of Mr. Pedro Aylwin, effective December 31, 2021. The Board expresses its thanks and gratitude to Pedro for his invaluable service to, and support of the Company. Mr. Aylwin has a long history with GeoPark that includes his roles as Head of Legal and Governance since 2011 and Board member since 2013. He has been a significant contributor to GeoPark’s corporate governance enhancements and sustainable growth over all this time.

Mr. Aylwin will continue as Head of Legal and Governance until the Company completes an ongoing executive search process.

The Board will not replace Mr. Aylwin and will reduce its size by one position, leaving six Directors in total and thus increasing the independent Board member majority to 66.6%.

Sylvia Escovar, Chairman of the Board, said, “There are no words to express our gratitude to Pedro for his significant contributions to the Board. We wish him the best in his future plans in Chile and will uphold his values, his long-term vision and his commitment to every one of our stakeholders.”

NOTICE

Additional information about GeoPark can be found in the “Investor Support” section on the website at www.geo-park.com.

CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION

This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as ‘‘anticipate,’’ ‘‘believe,’’ ‘‘could,’’ ‘‘expect,’’ ‘‘should,’’ ‘‘plan,’’ ‘‘intend,’’ ‘‘will,’’ ‘‘estimate’’ and ‘‘potential,’’ among others.

Forward-looking statements that appear in a number of places in this press release include, but are not limited to, statements regarding the intent, belief, or current expectations, regarding various matters, including the composition of our board of directors. Forward-looking statements are based on management’s beliefs and assumptions, and on information currently available to the management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors.

Forward-looking statements speak only as of the date they are made, and the Company does not undertake any obligation to update them in light of new information or future developments or to release publicly any revisions to these statements in order to reflect later events or circumstances, or to reflect the occurrence of unanticipated events. For a discussion of the risks facing the Company which could affect whether these forward-looking statements are realized, see filings with the U.S. Securities and Exchange Commission (SEC).

View source version on businesswire.com: https://www.businesswire.com/news/home/20220102005025/en/

INVESTORS:

Stacy Steimel

Shareholder Value Director

T: +562 2242 9600

ssteimel@geo-park.com

Miguel Bello

Market Access Director

T: +562 2242 9600

mbello@geo-park.com

Diego Gully

Investor Relations Director

T: +5411 4312 9400

dgully@geo-park.com

MEDIA:



Communications Department

communications@geo-park.com

Source: GeoPark Limited

FAQ

What changes were made to GeoPark's Board of Directors?

GeoPark announced the retirement of Pedro Aylwin from its Board effective December 31, 2021, reducing the Board size to six members.

What is the impact of Pedro Aylwin's retirement on GeoPark?

His retirement may raise concerns about continuity and experience gaps within the Board.

Who is Pedro Aylwin in relation to GeoPark?

Pedro Aylwin has been a key figure at GeoPark, serving as Head of Legal and Governance since 2011 and as a Board member since 2013.

What is the new composition of GeoPark's Board after the retirement?

After Aylwin's retirement, the Board will consist of six members, with a 66.6% majority of independent directors.