Vermilion Energy Installs New Executive Structure

Calgary-based Vermilion Energy, which has operations in North America, Europe and Australia, said May 25 it was implementing an executive committee structure following the sudden departure of Anthony Marino as president and CEO.

No reason was given for Marino’s departure.

Lorenzo Donadeo, a founder of Vermilion Energy and its board chairman since 2016, has been named executive chairman, while Curtis Hicks, executive vice-president and CFO at Vermilion between 2003 and 2018, has returned to the company as the new president.

“In these challenging times, Vermilion will redouble its focus on its core business principles that have served it well over its successful 26-year history,” Donadeo said. “These principles are based on a conservative, long-term focus on balance sheet strength and capital discipline to generate strong returns.”

Donadeo and Hicks will form the nucleus of the executive committee, which will also include Vermilion Energy’s CFO, COO, executive vice-president people & culture and vice-president, business development.

“The executive committee structure was successfully utilised by Vermilion in the past and has been formally re-established,” the company said. “This leadership structure has proven to be a highly collaborative decision-making model that draws upon the collective knowledge, experience, business acumen and skills of the senior management team.”