CORPORATE GOVERNANGOVERNANCE
Board Responsibilities
The Board of Directors is committed to effective corporate governance. The Board has established guidelines to ensure responsible oversight and will review them periodically. These guidelines ensure the Board fulfills its responsibility to shareholders by overseeing management and business matters.
Director Qualifications
The Board seeks directors with the following qualifications:
Strong Integrity: High ethical standards are essential.
Business Acumen: Deep understanding of business operations.
Commitment to Ausry: Genuine interest in the company's success.
Shareholder Investment: Alignment with shareholder interests through significant share ownership (while serving as a director or executive).
Current Structure
Currently, the Chairman of the Board, CEO, Senior Vice President-CFO, and Vice President-Accounting Officer are held by one individual. While this consolidation allows for streamlined decision-making, the Board and shareholders acknowledge the importance of assessing the long-term sustainability of this structure.
Succession Planning
The Board recognizes the need for a succession plan. While there are no immediate plans for retirement or resignation, the Board is committed to identifying and developing capable successors to ensure responsible oversight in the future. In the event of unforeseen circumstances, the Board will ensure the company's assets are distributed fairly to shareholders based on their investment.
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