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Shale Driller Ovintiv Adds New Director After Investor Criticism

Nov. 19, 2020, 3:56 PM

Ovintiv Inc. announced the retirement of one of its oldest and longest serving directors only two days after activist investor Kimmeridge Energy Management Co. criticized the natural gas producer for the lack of board renewal.

Fred Fowler, 75, will not seek re-election at the Denver-based company’s annual meeting in 2021, ending an 11-year tenure on the board, according to a statement. Meg Gentle, the 46-year-old chief executive officer of Tellurian Inc., was named an independent director, effective Dec. 16.

Shale explorers have been under increased pressure from investors to cut expenses and improve governance after years of...

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