Company: ZNOG
Filing Date: 2025-03-28
Form Type: PRE 14A
Source: 0001437749-25-009798
Chunk: 55

Company: ZION OIL & GAS INC
Filing Date: 2025-03-28
Form: PRE 14A
Chunk 55
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 stages will change over time as the business develops and new objectives are targeted, the executive talent needs will change such that succession planning guidelines are more important to the board than any fixed succession plan. The quality of executive leadership is often cited as the number one factor driving company performance, making succession planning arguably the most important function of a company’s board of directors. As part of succession planning, the board, working closely with the company’s current CEO and senior management, must:

| • | Determine the necessary experience, professional capabilities and personal characteristics of the company’s next leaders. |

| • | Identify and assess the candidates in light of the company’s overall business strategy and corporate culture. |

| • | Select the optimal candidate to take the place of the company’s current CEO or other senior management position. |

Proper succession planning requires:

| • | Carefully evaluating the company’s current needs. |

| • | Predicting the challenges that the company will likely face several years down the road. |

| • | Navigating the internal dynamics of the company and the hopes and fears of the current executives most affected by the outcome of the process. |

BOARD MEETINGS

During the fiscal year ended December 31, 2024, the Board held four board meetings and acted by unanimous written consent on 7 occasions. Each of the directors attended 100% of the aggregate number of meetings of the Board and 100% of any committees of the Board on which they served.

The Board does not have a formal policy with respect to Board members’ attendance at annual stockholder meetings, although it encourages directors to attend and participate at all such meetings. All the directors serving at the time of the 2024 annual meeting attended the Company’s 2024 annual meeting held in Dallas, Texas on June 5, 2024, either in person or on the webinar.

BOARD LEADERSHIP STRUCTURE

The role of Executive Chairman is held by Mr. Brown, and he held the position of CEO beginning effective April 12, 2019 and ending June 11, 2020. As of April 12, 2019, Mr. William Avery holds the position of President. Michael Croswell holds the position as Chief Financial Officer. As of June 13, 2019, Mr. Robert Dunn held the position of Chief Operations Officer, until June 11, 2020 when he also assumed the position of CEO. The Board believes that this management structure provides the optimal leadership situation for the Company during this period