Apache President and CEO G. Steven Farris said, "Sound internal policy and governance are key elements of the company's growth strategy. Shifting governance and policy sands are threatening U.S. companies' ability to balance short-term urgency with long-term growth focus. We must address governance and policy issues aggressively to continue delivering for our shareholders in coming decades."
Teslik has long experience in corporate government and said she is eager to join a company already sound in its governance practices. "Apache is one of those rare large companies that retains its small-company edge," Teslik said. "It is no accident that Glass, Lewis & Co. (Pay Dirt, Sept. 17, 2006) just selected Apache as one of the 25 best S&P 500 companies for delivering value relative to compensation paid, or that Fortune magazine singled out Apache from its list of 100 fastest-growing companies of 2005 for a follow-up article, Why We Still Like Apache (Aug. 2, 2006)."
Teslik served nearly 20 years as Executive Director of the Council of Institutional Investors. During that time, she played a major role in nearly every corporate governance development of the era, including the departures of underperforming CEOs, the overhaul of board practices and the creation and adoption of many federal, state and SRO laws, regulations, policies and practices, including Sarbanes-Oxley. In each of her 19 years at the Council, she increased its membership, budget, operations and reserves.
"In all my years of watching companies closely, I found few on which I'd be willing to bet the ranch, but Apache is one of them," Teslik said.
In 2004, Teslik became CEO of the Certified Financial Planner Board of Standards, Inc. In two years, she restructured the organization, replaced prior and projected losses with a substantial reserve, created its first major grants program, engaged in a major technology overhaul and hosted its first annual meeting.
Teslik holds a bachelor's degree from Whitman College, a master's degree from Oxford University and a juris doctorate from Georgetown University.
Apache Corporation is a discoverer and producer of oil and gas energy resources for the advancement of mankind in the interest of long-term investors seeking share appreciation.
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