2015 was a tough year for oil driller Schlumberger. Unless you were the CEO.

Yes, I know its a bit old but nevertheless interesting. Cut and paste the link

http://money.cnn.com/2016/02/19/news/companies/schlumberger-ceo-pay-oil-jobs/

CEO Paal Kibsgaard received total compensation worth $18.3 million in 2015, the company reported, down only slightly from $18.5 million the year before.

The rest of Schlumberger didn't fare so well. The company cut 25,000 jobs during the year, or 20% of its workforce. Revenue was down 27%, and profit plunged 41%.

Schlumberger (SLB) shares tumbled 18%.

The weak results and layoffs are the result of the plunge in the price of oil.

The modest drop in Kibsgaard's compensation was the result of the performance of his pension plan. His base salary and stock were up from 2014 levels. The cash he took home jumped 12% to $5.2 million.

Related: Cheap oil is killing my job

Schlumberger is the first major company in the oil industry to report executive pay for 2016.

http://money.cnn.com/2016/02/19/news/companies/schlumberger-ceo-pay-oil-jobs/

Comment! It's anonymous!

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So that's where all our cost of living raises went for the last 6 years.

But he really cares about us................he said so on one of his messages the other day

not worth the toilet paper IMO, embarrassing for me just to read those words, what a joker

yep written on toilet paper, wiped on his a-- and flushed down the can

Standing shoulder to shoulder with the employees. What a terrible example of leadership from Kibsgaard ..........an extract from Kibsgaard's blueprint:

Integrity: Recognize the boundaries and have the courage to act honestly and responsibly. Do the right thing.

(written on toilet paper obviously)

Another interesting site

Posted on Posted on March 10, 2016

Annual meeting: April 6, 2016

Cut and Paste http://ceopay.asyousow.org/2016/03/schlumberger/

Schlumberger is one of those S&P 500 companies that you may never have heard of. It describes itself as “the world’s largest oilfield services company” and specializes in oil and gas exploration technology. As with other oil companies, Schlumberger has had a difficult year: the stock price has fallen dramatically, revenues are down year-over-year by 27% and the company has laid off 34,000 workers since the end of 2014. However, compensation for CEO Paal Kibsgaard – over $18 million — didn’t significantly decrease. In fact his cash compensation actually increased by nearly 12%. This demonstrates the broad discretion of the Compensation Committee, and the hollowness of an elaborately constructed pay for performance plan.

Thread regarding Schlumberger Ltd. layoffs

2015 was a tough year for oil driller Schlumberger. Unless you were the CEO.

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