Summary
SLB Limited/NV (SLB) filed an 8-K report on July 22, 2019, detailing an amendment to its by-laws. Effective July 17, 2019, the Board of Directors adopted amended and restated by-laws, removing the previous requirement that a majority of the Board's quorum must consist of non-U.S. citizens. This change, while seemingly administrative, could have implications for the composition and decision-making processes of the Board. Investors should note this shift in governance as it may influence future strategic directions and operational oversight. The full text of the amended by-laws is available as an exhibit to this filing.
Key Highlights
- 1SLB amended its by-laws on July 17, 2019.
- 2The amendment removes the requirement for a majority of the Board quorum to be non-U.S. citizens.
- 3The amended by-laws became effective immediately upon Board adoption.
- 4This change impacts the governance structure of Schlumberger Limited.
- 5The full amended by-laws are available as Exhibit 3 to the filing.