Vermilion is committed to a high standard of corporate governance practices. Strong governance is in the best interests of our shareholders and promotes effective decision making at the board level.
Vermilion's governance practices resulted in a rank of fourth among energy companies and 25th of 232 companies and income trusts in the S&P/TSX composite index corporations in the 2013 Globe and Mail's Board Games.
Vermilion is recognized as one of the top 25 in 2013's Best Workplaces in Canada and France by the Great Places to Work® Institute; our operations in Netherlands and Australia also participate, but our number of employees in those countries is not large enough to meet the Great Places to Work® Institute's ranking requirement. Participation in these programs allows us to understand employee priorities, ensure we have competitive programs and increase our external profile to allow us to attract and retain the talent we need to ensure our success.
Vermilion's achievement of another top ranking in 2013 demonstrates to investors our commitment to the core values of Excellence, Trust, Respect and Responsibility.
With its shares dual listed on the TSX and the NYSE ("VET"), Vermilion is subject to Canadian rules and policies adopted by the TSX and the Canadian Securities Administrators (‘‘CSA'), and rules and listing standards applicable to "foreign private issuers" adopted by the NYSE and the U.S. Securities and Exchange Commission (‘‘SEC') (which give effect to provisions of the Sarbanes-Oxley Act of 2002). Vermilion considers these Canadian corporate governance requirements, NYSE corporate governance rules and listing standards and applicable SEC rules in determining its corporate governance practices. Responsibility to oversee our corporate governance practices is delegated by the board to the Governance and Human Resources Committee, a committee composed entirely of independent directors.
More information about our corporate governance practices and policies is included in our most recent information circular.