Vermilion Energy Inc. Announces Senior Leadership Changes

Rhea-AI Summary

Vermilion Energy has announced significant changes to its leadership team. Effective immediately, Michael Kaluza has stepped down as COO. Dion Hatcher is now Vice President, North America, overseeing operations in Canada and the U.S., while Darcy Kerwin has been appointed Vice President, International & HSE, responsible for global operations and health and safety efforts. These promotions aim to maintain operational continuity and focus on cost control and profitability. The leadership changes are expected to align with Vermilion's goals of promoting from within and enhancing strategic decision-making.

Positive

• Dion Hatcher and Darcy Kerwin promoted, supporting internal succession and continuity.
• Focus on cost-control and operational efficiency maintained without appointing a new COO.

Negative

• Michael Kaluza's sudden departure may create concerns about leadership stability.

CALGARY, AB, Nov. 17, 2020 /PRNewswire/ - Vermilion Energy Inc. ("Vermilion", "We", "Our", "Us" or the "Company") (TSX: VET) (NYSE: VET) announces changes to its senior leadership team. Mr. Michael Kaluza has stepped down as Executive Vice President and Chief Operating Officer ("COO"), effective immediately. We would like to thank Mr. Kaluza for his many contributions to Vermilion over the past seven years.

Mr. Dion Hatcher has been appointed to the newly created position of Vice President, North America. Mr. Hatcher has been with Vermilion since 2006 and most recently held the position of Vice President of the Canadian Business Unit, a position he has held since 2016. In his new role, Mr. Hatcher will be responsible for all of Vermilion's operations in Canada and the United States.

Mr. Darcy Kerwin has been appointed to the newly created position of Vice President, International & HSE where he will oversee Vermilion's Health, Safety and Environment efforts and be responsible for all of Vermilion's international operations. Mr. Kerwin has been with Vermilion since 2005 and has worked in our Canada, France, Australia and Ireland business units and most recently in the Calgary Head Office as Vice President, Strategic Planning.

We would like to congratulate Mr. Hatcher and Mr. Kerwin on their new roles and look forward to their ongoing contributions to Vermilion. These promotions are in alignment with Vermilion's objectives of promoting from within to develop internal succession candidates and maintaining continuity in our business while retaining our focus on efficient, effective operations.

In lieu of filling the role of COO we will rely on Mr. Hatcher and Mr. Kerwin to jointly fulfill the duties and continue to emphasize our focus on cost-control and safe, efficient, profitable operations. 

As previously announced, Mr. Hatcher and Mr. Kerwin are also members of Vermilion's Executive Committee. The Executive Committee is proving to be very successful in managing the company by utilizing the collective knowledge of the eight Committee members to collaborate on strategic decisions for the Company.

About Vermilion

Vermilion is an international energy producer that seeks to create value through the acquisition, exploration, development and optimization of producing properties in North America, Europe and Australia. Our business model emphasizes organic production growth augmented with value-adding acquisitions, along with returning capital to investors when economically warranted. Vermilion is targeting growth in production primarily through the exploitation of light oil and liquids-rich natural gas conventional resource plays in Canada and the United States, the exploration and development of high impact natural gas opportunities in the Netherlands and Germany, and through oil drilling and workover programs in France and Australia. Vermilion holds a 20% working interest in the Corrib gas field in Ireland.

Vermilion's priorities are health and safety, the environment, and profitability, in that order. Nothing is more important to us than the safety of the public and those who work with us, and the protection of our natural surroundings. We have been recognized as a top decile performer amongst Canadian publicly listed companies in governance practices, as a Climate Leadership level (A-) performer by the CDP, and a Best Workplace in the Great Place to Work® Institute's annual rankings in Canada, the Netherlands and Germany. In addition, Vermilion emphasizes strategic community investment in each of our operating areas.

Employees and directors hold approximately 5% of our fully diluted shares and are committed to delivering long-term value for all stakeholders. Vermilion trades on the Toronto Stock Exchange and the New York Stock Exchange under the symbol VET.

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SOURCE Vermilion Energy Inc.

FAQ

What are the recent leadership changes at Vermilion Energy?

Michael Kaluza has stepped down as COO, while Dion Hatcher and Darcy Kerwin have been appointed as Vice Presidents for North America and International & HSE, respectively.

Why did Michael Kaluza leave Vermilion Energy?

The press release did not specify the reasons for Michael Kaluza's departure as COO.

What will Dion Hatcher's role be at Vermilion Energy?

Dion Hatcher will be the Vice President, North America, responsible for operations in Canada and the U.S.

What responsibilities does Darcy Kerwin have in his new position?

Darcy Kerwin will oversee Vermilion's Health, Safety, and Environment efforts and manage international operations.

How does Vermilion Energy plan to maintain operational efficiency after the leadership change?

Vermilion will rely on Dion Hatcher and Darcy Kerwin to jointly fulfill COO responsibilities while focusing on cost control and efficient operations.