Who is James T. Hackett and what is his background?

James T. Hackett is a seasoned executive with extensive experience in the energy sector. He has served as president of Tessellation Services since 2013, was formerly executive chairman of Alta Mesa Resources, and a partner at Riverstone Holdings. Notably, he was the executive chairman and CEO of Anadarko Petroleum Corporation from 2003 to 2013. He also holds current or past directorships with NuScale Power Corporation, Enterprise Products Holdings, Fluor Corporation, NOV, Halliburton, and Cameron International.

What is the significance of Mr. Hackett's appointment as Chair-elect?

The appointment of Mr. Hackett as Chair-elect signifies a planned succession for the leadership of SLB's Board of Directors. It suggests that the company is proactively preparing for a leadership transition, leveraging Mr. Hackett's considerable experience to guide the company through its future strategic initiatives.

What is happening with the current Chairman, Mark Papa?

Mark Papa, the current independent Chairman of the Board, is expected to retire following an appropriate handover period with Mr. Hackett. He is not anticipated to stand for re-election at SLB's 2024 annual general meeting of shareholders.

Will Mr. Hackett immediately join any Board committees?

No, to facilitate an effective handover of Chair duties, Mr. Hackett has not been assigned to any Board committees at this time. The company will file an amendment if he is assigned to any committees.

SLB 8-K: Leadership Changes

Summary

SLB Limited/NV (SLB) has announced a significant leadership transition regarding its Board of Directors. Effective April 17, 2023, the Board appointed Mr. James T. Hackett as a new director, and he is slated to become the independent Chair-elect of the Board starting July 1, 2023. This appointment signals a planned succession for the Chairmanship, with the current independent Chairman, Mr. Mark Papa, expected to retire after a suitable handover period and not stand for re-election at the 2024 annual general meeting. Mr. Hackett brings extensive experience in the energy sector, having held leadership roles at Anadarko Petroleum, Alta Mesa Resources, and Riverstone Holdings, among others. His appointment to lead the Board as Chair-elect is a strategic move by SLB to leverage his deep industry knowledge and leadership capabilities as the company navigates the evolving energy landscape. Investors should monitor the ongoing transition and Mr. Hackett's initial contributions to the Board's strategic direction.

Key Highlights

1Appointment of James T. Hackett to the Board of Directors, effective April 17, 2023.
2James T. Hackett appointed as independent Chair-elect of the Board, effective July 1, 2023.
3Planned retirement of current independent Chairman, Mark Papa, after a handover period.
4Mr. Papa is not expected to stand for re-election at the 2024 annual general meeting.
5Mr. Hackett possesses significant experience in the oil and gas industry, including past CEO and executive chairman roles.
6Mr. Hackett will serve as a director until the next annual general meeting and will be subject to re-election.
7Mr. Hackett will be compensated under the Company's standard director compensation program.

SLB LIMITED/NV 8-K Report, Executive Changes (Apr 17, 2023)

Summary

Key Highlights

Frequently Asked Questions