George Pita
OvintivAbout George L. Pita
Independent director of Ovintiv (OVV) since 2021; age 63; Audit Committee Chair and member of the Reserves Committee. Former public-company CFO with 40+ years of finance, audit, capital markets, M&A, ERM, and cybersecurity oversight experience. Education: BA in Accounting (University of Miami); CPA (inactive). Recognized audit committee financial expert under SEC rules; bilingual (English/Spanish). Tenure at OVV: 2021–present.
Past Roles
| Organization | Role | Tenure | Committees / Impact |
|---|---|---|---|
| MasTec, Inc. | EVP & CFO | 2013–2023 | Oversaw growth from ~$3B to ~$12B revenue, investment-grade credit upgrade, Fortune 500 placement; enhanced cybersecurity/ERM functions |
| Stuart Weitzman Holdings LLC | EVP & CFO | — | Senior finance leadership |
| Perry Ellis International | EVP & CFO; SVP Strategic Planning; SVP Direct Retail/ASI/Wholesale Golf | — | Multi-role strategic and finance leadership |
| Sunglass Hut International | EVP & CFO; VP Finance/Chief Accounting Officer; VP International Biz Dev | — | Global finance and development leadership |
| Arthur Andersen | Senior Audit Manager | — | Early career audit leadership |
External Roles
| Organization | Role | Status / Tenure | Notes |
|---|---|---|---|
| Harry’s Inc. | Director | Current | Personal care company (private) |
| Goodwill Industries of South Florida | Director; Audit Committee Chair; Cyber & Technology Committee Member | Current | Non-profit governance and cybersecurity oversight |
| Perry Ellis International | Advisory Board Member | Current | Apparel brand advisory role |
| University of Miami, School of Accounting | Advisory Board | Current | Academic advisory role |
| MasTec, Inc. | Advisor | Current | Advisory (post-CFO) |
| Jupiter Acquisition Corp. | Director; Audit Committee Chair | 2021–2023 | Public SPAC (ended 2023) |
Board Governance
| Attribute | Detail |
|---|---|
| Independence | Independent director; all OVV committees comprised of independent directors |
| Committees | Audit Committee (Chair; SEC “financial expert”); Reserves Committee (Member) |
| Attendance (2024) | Board 5/5; Audit 5/5; Reserves 3/3; Total 13 meetings – 100% attendance |
| Engagement | Board field visit to Permian assets (Oct 2024); regular executive sessions; continuing education incl. cybersecurity |
| Overboarding / Conflicts Controls | OVV overboarding policy (≤3 other public boards); change-of-circumstance policy; majority voting; executive sessions |
| Related-Party Transactions | None reportable since Jan 1, 2024 |
Fixed Compensation
| Component | OVV Director Program (2024) | Pita – Actual 2024 | 2025 Changes |
|---|---|---|---|
| Annual Board Retainer (cash/DSU portion) | 31% of $305,000 | $115,000 (cash/DSU fees earned) | — |
| Committee Chair Retainer | Audit Chair: $20,000 | Included in cash/DSU fees above | Audit Chair: $25,000 (from 2025) |
| Other Compensation | Life insurance taxable benefit | $431 | — |
| Total 2024 Compensation | 69% equity + 31% cash/DSU | $325,449 total; cash/DSU $115,000; equity $210,018; other $431 | Committee chair retainers increased (see right) |
Notes:
- OVV independent directors receive no performance-based cash pay; pay mix target is 69% equity / 31% cash or DSUs at director’s election .
Performance Compensation
| Element | Grant Detail | Vesting / Settlement | Performance Metrics |
|---|---|---|---|
| Director RSUs (annual) | 2024 grant: 4,213 units; FMV $210,018; grant date May 17, 2024; VWAP $49.85 used for share calc | Equity settles immediately under Omnibus Incentive Plan (grants from 2022 onward) | None – independent directors do not receive performance-conditioned awards |
Other Directorships & Interlocks
| Company | Type | Role | Interlock / Conflict Notes |
|---|---|---|---|
| Jupiter Acquisition Corp. | Public (SPAC) | Director; Audit Chair (2021–2023) | Ended 2023; no OVV interlocks disclosed |
| Harry’s Inc. | Private | Director | Unrelated consumer company; no OVV interlocks disclosed |
| Goodwill Industries of South Florida | Non-profit | Director; Audit Chair | Non-profit; no OVV interlocks disclosed |
| Perry Ellis International | Private | Advisory Board | Apparel; no OVV interlocks disclosed |
OVV disclosure states there are no interlocking directorships with other reporting issuers for its board. No related-person transactions since Jan 1, 2024.
Expertise & Qualifications
- CFO/Finance leadership across public and private companies; extensive capital markets, M&A, SEC reporting, investor relations; ERM and cybersecurity oversight
- Audit Committee Financial Expert (SEC definition)
- Industry breadth beyond E&P supports independence of perspective; governance/public company board experience
Equity Ownership
| Measure | Amount / Policy |
|---|---|
| Shares Beneficially Owned | 17,586 shares (as of Mar 10, 2025); <1% of outstanding |
| DSUs Held (12/31/2024) | None |
| Director RSUs Outstanding (12/31/2024) | None outstanding/unsettled (director RSUs settle at grant) |
| Hedging / Pledging | Prohibited for directors and executives |
| Ownership Guidelines | Directors must hold ≥5x annual cash compensation within 5 years; board reports all directors meet or are on track |
Insider Reporting
| Item | 2024 Status |
|---|---|
| Section 16(a) Filings | Company reports all insiders timely filed for 2024 except late Form 4s for three individuals (Code, Shaw, Chhina) – Pita not cited for any delinquency |
Governance Assessment
-
Strengths
- Independent Audit Chair with deep CFO and capital markets experience; designated SEC financial expert; 100% board/committee attendance; active field/cybersecurity engagement .
- Robust independence and alignment: no related-party transactions; hedging/pledging prohibited; stock ownership guidelines with compliance/on-track status .
- Director pay structure favors equity (69%) with immediate settlement; clear, simple retainers and transparent chair fees; no performance pay that could bias oversight .
-
Watch items
- External advisory role at MasTec (industry infrastructure contractor) noted, but no OVV-related party transactions disclosed; continue to monitor for any vendor relationships or transactions requiring Item 404 review .
- Overboarding risk appears contained under OVV policy; maintain monitoring if additional public boards are added .
-
Investor-confidence signals
- Audit leadership and financial-expert status, perfect attendance, and absence of conflicts support oversight quality. Say-on-pay support (96.2% in 2024) indicates broader governance credibility with investors, indirectly reinforcing board effectiveness .