Protecting Our Workforce
Starting at the top with our most senior leaders, our employees are engaged in identifying and managing health and safety risks and are active participants in continuously improving the health and safety performance of our company.
Ultimate oversight of our health and safety programs resides with our Board of Directors, who review our health and safety policies, management systems and performance on a regular basis. At an operating level, our Director of Safety and Health reports to our Senior Vice President of Operations and Production, who reports to our Executive Vice President and Chief Operating Officer. Our Executive Vice President and Chief Operating Officer reports to our President, who reports to our Chairman and Chief Executive Officer. Senior leaders, including Senior Vice President of Operations and Production, Executive Vice President and Chief Operating Officer, President, and Chairman and Chief Executive Officer are responsible for clear and ongoing communication of Concho’s safety expectations throughout the organization.
To ensure accountability and drive continual improvement, safety and health is one of the performance metrics considered by our Compensation Committee of the Board of Directors in determining the discretionary component of compensation for each of our officers, including the Chairman and Chief Executive Officer. The discretionary component comprises 40% of an officer’s total target opportunity under our annual cash bonus program.