Governance
Our company is governed by an independent Board of Directors, according to standards established by the New York Stock Exchange. The Board consists of 11 members, nine of whom have joined the Board since 2003. As of April 2009, RiskMetrics Group (formerly Institutional Shareholder Services or ISS), reported that El Paso outperformed 93.4 percent of the companies in the S&P 500, and our Board’s performance ranked better than 99.6 percent of the companies in the energy group in corporate governance matters15. Although this rating is just one indicator of our Board’s cumulative governance performance, we believe it reflects our Board’s commitment to maintaining high standards of corporate governance.
RiskMetrics Group noted several factors having a positive impact on our company’s governance rating, including:
- The Board is controlled by a supermajority of independent outside directors (greater than 90 percent);
- All Board committees, including our Audit Committee, are composed solely of independent outside directors
- The full Board of Directors is elected annually;
- Executives and Directors are subject to stock ownership guidelines; and
- All stock-based incentive plans are approved by shareholders.
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To contact non-management members of the Board of Directors, send written correspondence to the following address:
El Paso Corporation
______________, Director
c/o Marguerite Woung-Chapman, Corporate Secretary
P.O. Box 2511
Houston, TX 77252
15Rating is referred to as a Corporate Governance Quotient, or CGQ, rating
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