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Governance and Leadership
The Company is committed to adhering to sound principles of corporate governance and has adopted robust corporate governance and transparency standards that promote the efficient functioning of its Board of Directors, its committees, and the Company overall. These standards encompass robust policies, processes, and guidelines which the Company has implemented across its global organization, and which seek to add to the value of the Company and to manage the Company’s performance and interaction with customers, employees, board members, committees, and stakeholders.
The primary responsibility of the Board of Directors is the effective oversight and governance of the Company’s affairs to maximize financial performance, operational excellence, and sustainable value to stakeholders.
The Board is headed by Stacy Palmatary, the Chairman. Appointments to the Board and meetings are undertaken in accordance with the Articles of Association.
Our senior management team and Board are committed to effective and ethical corporate governance through strict adherence to our corporate governance policies, principles, and guidelines.
Executive Management
The Company has a global leadership team from diverse backgrounds with breadth and depth of experience, knowledge and expertise gained through working in international oil and natural gas regions. They have an impressive operating track record, and have achieved organic growth, including development of new products, opening of new production facilities, and entry into new geographical and product markets.
Mark Shabad
Interim Chief Executive Officer
With over 30 years of expertise in the oil and gas service industry, Mark Shabad has built a distinguished career driving innovation and growth across global markets. In the late 1980s, having immigrated from USSR, Mark established a trading business together with his business partner to oversee trading operations with the former USSR countries. Throughout the 1990s, Mark expanded his focus to include investments in mechanical engineering and oil field services manufacturing. His leadership has been instrumental in the successful development and international expansion of several companies in these sectors. Mark has been serving as a Non-Executive Director of Levare International Ltd since 2007.
Vlad Kondratiev
Senior Executive Vice President
Vlad Kondratiev, has had a long career as a senior executive in the oil and gas sector. Vlad joined Borets International in 2000 as a specialist project manager. Vlad has been responsible for new product, business and technology development in international regions, and has served as Chief Technology Officer and Chief Executive Officer. Vlad brings extensive international experience and understanding of the oilfield services industry from a technical and development perspective.
Kyle Chapman
EVP – Global Operations
Kyle Chapman, has over 25 years in the oil and gas service industry. Kyle served as President of Levare US prior to this role. Before joining Levare, Kyle held various executive positions at Weatherford International including President of Production, Product Line Marketing and Vice President of Western Hemisphere Operations. He has held Board positions with the Petroleum Equipment Suppliers Association (PESA) and the Association of Oil, Gas and Renewable Energy Companies of Latin American (Arpel). Kyle currently serves on the Executive Advisory Board of the Bob.L Heard Department of Petroleum Engineering at Texas Tech. University.
Ondrej Markovic
EVP – Manufacturing, Procurement and Logistics
Ondrej Markovic, has over 17 years’ experience in manufacturing, procurement and logistics. Ondrej started his career with the company based at the group’s major logistics centre in Slovakia and is responsible for the development and oversight of the group’s international manufacturing facilities. Ondrej previously served as the sales and procurement director prior to his appointment as general manager for Levare Cable s.r.o. Ondrej brings specialist procurement and logistics experience and manufacturing expertise.
Irina Boeva
EVP – Strategic Planning
Irina Boeva has over 30 years of experience in the oil and gas industry, with the last 15 years serving as the Chief Operating Officer of the company. Throughout her career, Irina has held multiple leadership roles, where she has been instrumental in the planning, development, and execution of various strategic initiatives. Her extensive international experience spans management, operations, economic planning, systems analysis, and corporate strategy. Irina's expertise has been a key driver in the company’s growth and success.
Daniil Shapirovsky
Chief Financial Officer
Daniil Shapirovsky, started his career at PwC before joining Borets International in 2006. Since then, as Head of International Finance he has been responsible for successful Eurobond issues, financial management, and reporting across international regions, dealing with financial institutions and international rating agencies, developing and implementing control systems and working with internal and external auditors. Daniil brings extensive experience in managing a multijurisdictional finance team and group-wide finance projects.
Luis E. Seczon
Chief Technology Officer
Luis E. Seczon, Luis has over 30 years in the oil industry. He started his career working for Oil operators in Colombia: ESSO, Ecopetrol, and Occidental in Production and Workover Rig activities. He then worked with Baker Hughes and Weatherford, assuming regional positions in Latin America. For the past 15 years, he has served as Country and Regional manager in Venezuela and Colombia before his appointment as CTO for Borets International in 2020. Luis has been instrumental in Permanent Magnet Motor technology growth in the international markets, initially with ESPs and PCPs, and more recently with Linear Pumps. He brings extensive industry experience and technology expertise.
Kevin Scarsdale
Director of Engineering
Kevin Scarsdale, Kevin has 34 years’ experience in the Artificial Lift industry. Kevin was previously with Schlumberger for over 30 years where he held various technical roles in Engineering, Manufacturing, Business development, and Project management. He has extensive knowledge of ESP technologies, Horizontal Pumping Systems, Alternative Deployed ESPs, Gas Lift barrier valves, and Subsea ESPs. As AL Subsea Technical Advisor, he led multiple client technology development projects related to high reliability ESPs for subsea applications. Kevin has also served as Engineering Manager related to ESP New Product Development and Sustainability. He holds 28 patents related to Artificial lift technology and brings specialist technical and engineering expertise.
Board of Directors
Chairman
Stacy Palmatary
Independent Non-Executive Director
Bernard Duroc-Danner
Non-Executive Directors
Gregory Schtulberg
Mark Shabad
Ariel Stulberg
Natalia Bryantseva
Company Secretary
Michelle Pham
The Board has three standing committees charged with specific oversight
in overseeing various processes
Primary duties:
Reviews the Company’s financial statements and reporting systems
Appoints and reviews the performance of external auditors
Discusses the financial accounting and reporting principles and adequacy of internal accounting, financial and operating controls with the auditors and management
Reviews reports of internal audits submitted to the Committee
Oversees and monitors compliance with policies, procedures, risk management and corporate governance systems
Primary duties:
Develop and review overall compensation strategy and framework
Reviews and approves the corporate goals and objectives relevant to senior management
Evaluates performance criteria, incentives and bonus plans of senior management
Primary duties:
Review policies relating to cash flows, working capital, expenditure and cash management
Review annual and projected financial plans and any investment policies
Review and recommend to the Board debt or credit lines
Review and approve management of foreign currencies or other instruments
The Company meets high ethical standards
The Company has in place robust policies and procedures, including the Code of Conduct aimed at meeting high ethical standards to ensure sound and transparent corporate governance and financial disclosure standards. It places strong emphasis on necessary diligence and compliance with all applicable anti-corruption and trade control regimes. These principles serve as the foundation and guidelines for the governance of the Company. The Company’s senior management and legal team review these principles and supporting policies on a regular basis to ensure that they are updated and maintained in accordance with applicable laws and regulations.
For complete description, refer to Code of Conduct, Know your counterparty (KYC) sanctions policy