Cronyism? Nominating and Governance Committee of the Board of Directors of Schlumberger

Helge Lund (born 16 October 1962) is a Norwegian businessman and the former chief executive officer (CEO) of BG Group, Statoil and Aker Kværner.[1]

Change in Directors or Principal Officers

Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(d) Appointment of Director

On June 1, 2016, upon the recommendation of the Nominating and Governance Committee of the Board of Directors of Schlumberger Limited (the "Company," and such board, the "Board'), the Board appointed Helge Lund as a new director in accordance with the Company's Articles of Incorporation. Mr. Lund will serve as a director until the next annual general meeting of the Company's' stockholders and will be subject to election by the vote of stockholders of the Company at such meeting.

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Statoil is a government subsidized wreck. They are not efficient nor have they had to be. They are like the Saudis in many ways. So a former CEO in a company like that doesn't impress me.

British Gas was ran into the ground to the point I think it was about to tank the British economy until another oil giant came in playing captain save a hoe and picked it up at an immediate loss without any anger from the shareholders or any criticism in any financial publication.

So yes this guys track record shows he's a parasite and last if he ran Aker, look at how dismal Aker is today. They too were a great company that was pilfered away into uselessness by boards and CEOs.

If this guy is coming to SLB then expect nothing less than hell coming with him. He isn't coming for anything but the cash.

agree, something odd with this.....Paal just bought another Company today it appears.

as I read this, 1st thing that comes to mind is SLB is in discussions internally on selling something off. Happened in the early 2000's, wouldn't surprise me if it happens again due to the severe mkt conditions. This guy has expertise in this, so they added him to the board....

Paal a Norwegian as well. Guess they're mates. In regards to compensation it states

As a non-employee director, Mr. Lund will participate in the non-employee director compensation arrangements described in the Company's definitive proxy statement filed with the Securities and Exchange Commission (the "SEC") on February 19, 2016 and will be eligible for a pro-rated portion of the Company's annual non-employee director compensation.

So one has to find this in the Company's definitive proxy statement filed on February 19, 2016

My guess it will amount to several employees that SLB has laid off and this is for a part time Board of Director

how much compensation wil b given to this person who has not contributed to schlumberger (the company)

I think a lot will leave when opportunities will be lining up again. Massive exodus.

Thread regarding Schlumberger Ltd. layoffs

Cronyism? Nominating and Governance Committee of the Board of Directors of Schlumberger

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