Company: TEN-PE
Filing Date: 2025-04-11
Form Type: 20-F
Source: 0001193125-25-079101
Chunk: 148

Company: TSAKOS ENERGY NAVIGATION LTD
Filing Date: 2025-04-11
Form: 20-F
Item: Item 6
Chunk 148
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 attention of Investor Relations, c/o George Saroglou or Paul Durham or Harrys Kosmatos, Tsakos Energy Navigation Limited, 367 Syngrou Avenue, 175 64 P. Faliro, Athens, Greece.

The Board has a long-standing commitment to sound and effective corporate governance practices. The Board’s Corporate Governance Guidelines address a number of important governance issues such as:

  Selection and monitoring of the performance of the Company’s senior management;  

  Succession planning for the Company’s senior management;  

  Qualifications for membership on the Board;  

  Functioning of the Board, including the requirement for meetings of the independent directors; and  

  Standards and procedures for determining the independence of directors.  

The Board believes that the Corporate Governance Guidelines and other governance documents meet current requirements and reflect a very high standard of corporate governance.

Committees of the Board

The Board has established an Audit Committee, a Corporate Governance, Nominating and Compensation Committee, a Business Development and Capital Markets Committee and an Operational, Safety and Environmental (“ OSE”) Committee.

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Audit Committee

The current members of the Audit Committee are Messrs. Tommasino, Arapoglou and Petropoulos each of whom is an independent director. Mr. Tommasino is the Chairman of the committee. The Audit Committee is governed by a written charter, which is approved and adopted annually by the Board. The Board has determined that the continuing members of the Audit Committee meet the applicable independence requirements, and that all continuing members of the Audit Committee meet the requirement of being financially literate. The Audit Committee is appointed by the Board and is responsible for, among other matters:

  engaging the Company’s external and internal auditors;  

  approving in advance all audit and non-audit services provided by the auditors;  

  approving all fees paid to the auditors;  

  reviewing the qualification and independence of the Company’s external auditors;  

  discussing compliance with accounting standards and any proposals which the external auditors have made regarding the Company’s accounting standards with the external auditors;  

  overseeing the Company’s financial reporting and internal control functions;  

  overseeing the Company’s whistleblower’s process and protection;  

  overseeing general compliance with related regulatory requirements;  

  overseeing the executive management’s identification and assessment of risks that the Company faces and the establishment of a risk management structure capable of addressing and mitigating tho...  

  overseeing the division of risk-related responsibilities among each of the Board committees as