Summary
SLB LIMITED/NV (SLB) announced on June 1, 2016, the appointment of Helge Lund as a new director to its Board of Directors. Mr. Lund's appointment is effective until the next annual general meeting, at which point he will be subject to stockholder election. The company expects to assign Mr. Lund to one or more board committees at a later date, with details regarding his specific committee assignments and any potential material interests in company transactions to be disclosed in an amendment to this filing. As a non-employee director, Mr. Lund will receive compensation in line with the company's existing arrangements for non-employee directors, including a pro-rated portion of the annual compensation. He is also expected to enter into the company's standard director indemnity agreement. This appointment is a significant governance update for SLB, potentially bringing new expertise to the board.
Key Highlights
- 1Appointment of Helge Lund as a new Director to the Board.
- 2Mr. Lund's appointment is effective June 1, 2016.
- 3He will serve as a director until the next annual general meeting and is subject to stockholder election.
- 4Future committee assignments for Mr. Lund are anticipated but not yet determined.
- 5Mr. Lund will be compensated according to the company's non-employee director compensation plan.
- 6He is expected to enter into the company's standard director indemnity agreement.
- 7Further details on committee assignments and potential conflicts of interest will be disclosed in an amendment.