Andrew Orekar
Venture GlobalAbout Andrew Orekar
Independent director (Age 48) at Venture Global, Inc. since 2023; Chair of the Audit Committee and designated “audit committee financial expert.” Former CEO and director of GasLog Partners (NYSE: GLOP-A) who led its IPO and fleet expansion, and previously a Managing Director at Goldman Sachs advising natural resources companies on M&A and capital markets. He also served on the boards of Tortoise Acquisition Corp. and Parabola Acquisition Corp.
Past Roles
| Organization | Role | Tenure | Committees / Impact |
|---|---|---|---|
| GasLog Partners (NYSE: GLOP-A) | Chief Executive Officer; Board Member | Appointed CEO at founding in 2014; served nearly seven years through 2020 | Led IPO; oversaw growth from 3 to 15 vessels |
| Goldman, Sachs & Co. | Managing Director, Investment Banking (Natural Resources) | Joined 1998; leadership roles prior to joining GasLog Partners | Advised on M&A and capital markets transactions |
External Roles
| Organization | Role | Tenure | Committees / Impact |
|---|---|---|---|
| Tortoise Acquisition Corp. | Director | Not disclosed | — |
| Parabola Acquisition Corp. | Director | Not disclosed | — |
| GasLog Partners (NYSE: GLOP-A) | Board Member | Concurrent with CEO tenure | — |
Board Governance
- Independence: Board determined Orekar is independent under SEC and NYSE rules .
- Committee assignments: Audit Committee (Chair); designated “Audit Committee financial expert.” The Audit Committee is fully independent under NYSE Rule 10A-3 .
- Attendance/engagement: Each director attended 100% of Board and applicable committee meetings in 2024; Board held 4 regular and 1 special meeting .
- Audit oversight scope: Auditor selection/independence, internal controls, financial reporting, earnings materials, related-person transactions (Item 404), conflicts, and administration of the Company’s clawback policy (Financial Restatement Compensation Recoupment Policy) .
- Lead independent/presiding director: No permanent lead independent director; independent directors appoint a presiding director solely for independent sessions, limited to the applicable meeting .
- Controlled company status: VG Partners controls ~97.8% of total voting power; company uses NYSE “controlled company” exemptions (Compensation and Nominating/Governance Committees not fully independent), while Audit remains fully independent .
Fixed Compensation
| Year | Fees Earned or Paid in Cash | Notes |
|---|---|---|
| 2024 | $240,000 | Reported director cash fees for non-employee directors in 2024 |
Director compensation policy (post-IPO):
| Component | Amount | Notes |
|---|---|---|
| Board annual cash retainer | $240,000 | Applies to non-employee directors |
| Audit Committee Chair | $50,000 | Additional cash retainer |
| Committee member retainer | $25,000 | Per committee membership |
Performance Compensation
Policy framework for non-employee director equity (post-IPO):
| Grant Type | Grant Value / Terms | Vesting |
|---|---|---|
| Initial director equity grant (options or RSUs) | Amount at Compensation Committee discretion | Equal annual installments over 4 years |
| Annual director equity grant (options or RSUs) | $200,000 grant-date value | Equal annual installments over 4 years |
Reported 2025 Form 4 award:
| Transaction Date (Filed) | Type | Security | Quantity | Exercise Price | Post-Transaction Holdings | Source |
|---|---|---|---|---|---|---|
| 2025-05-22 (filed 2025-05-27) | Award (A) | Stock Options | 41,237 | $10.40 | 41,237 options | https://www.sec.gov/Archives/edgar/data/2007855/000095010325006403/0000950103-25-006403-index.htm |
Other Directorships & Interlocks
| Company | Ticker | Role | Status |
|---|---|---|---|
| Tortoise Acquisition Corp. | — | Director | Prior service |
| Parabola Acquisition Corp. | — | Director | Prior service |
| GasLog Partners | NYSE: GLOP-A | CEO and Director | Prior service |
Expertise & Qualifications
- Audit Committee financial expert; Audit Chair
- LNG and maritime transport leadership; executed IPO and scale-up at GasLog Partners
- Capital markets and M&A expertise (Goldman Sachs, natural resources coverage)
Equity Ownership
| As of (Record Date) | Class A Shares Beneficially Owned | % of Class A | Notes |
|---|---|---|---|
| March 25, 2025 | 1,977,640 | <1% | Per proxy beneficial ownership table |
Insider trading/hedging/pledging policies:
- Company prohibits hedging and pledging of company securities by directors, officers, and employees (limited exceptions require pre-approval); short sales also prohibited .
Insider trading activity (Form 4):
| Date (Trans./Filed) | Type | Security | Quantity | Price | Post-Transaction Position | Source |
|---|---|---|---|---|---|---|
| 2025-05-22 / 2025-05-27 | A (Award) | Stock Options | 41,237 | $10.40 | 41,237 options | https://www.sec.gov/Archives/edgar/data/2007855/000095010325006403/0000950103-25-006403-index.htm |
Governance Assessment
-
Strengths (Investor confidence signals)
- Independent director; Audit Chair and designated financial expert; 100% attendance in 2024 .
- Audit Committee explicitly oversees auditor independence, internal controls, related-party transactions, conflicts, and the clawback policy—key safeguards in a controlled-company structure .
- Post-IPO director compensation adds multi-year vesting equity, improving ownership alignment; insider policy prohibits hedging/pledging .
-
Watch items / Potential risks
- Controlled company governance: Compensation and Nominating/Governance Committees are not fully independent while VG Partners holds ~97.8% voting power; mitigated by fully independent Audit Committee chaired by Orekar .
- No related-party transactions disclosed for Orekar; the proxy’s related-person section lists transactions for another director, not involving Orekar .
-
Audit Committee performance
- The Committee (Orekar, Chair) recommended inclusion of audited 2024 financial statements in the 10-K; EY fees and independence reviewed and pre-approved; EY has served since 2020 .
-
Director compensation mix and alignment
- 2024 non-employee director pay was cash-only ($240k). Post-IPO policy adds structured cash retainers plus annual equity grants vesting over four years, and audit chair premium ($50k), aligning pay with long-term oversight responsibilities .