Devon Energy’s Board of Directors presently has five committees: Audit, Compensation, Dividend, Governance and Reserves. Following are brief descriptions of each committee’s purpose and responsibilities and links to their charters.
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The Audit Committee assists the Board of Directors in ensuring the integrity of Devon’s financial statements and reporting system, compliance with legal and regulatory requirements and performance of internal and external audit functions.
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The Compensation Committee assists the Board of Directors in determining the compensation for Devon’s senior executives and provides oversight of the company’s employee benefit programs.
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The Dividend Committee declares regular quarterly dividends to shareholders.
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The Governance Committee assists the Board of Directors in identifying qualified individuals for Board membership and oversees the company’s corporate governance practices.
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The Reserves Committee assists the Board of Directors with oversight of the annual review and evaluation of the company's consolidated petroleum and natural gas reserves, reporting system, compliance, regulatory requirements and related disclosure.