Olivier Le Peuch is the CEO of Schlumberger, a leading oilfield services company, since August 2019. He’s been with Schlumberger for over 30 years, starting as an electrical engineer. His journey through various management roles shows he knows the business...

Number of Employees

111K

Year

2023

Total Compensation

$5.23M

Salary

$1.55M

Board Justification

The compensation philosophy for the CEO in 2023 was to align with company performance, focusing on achieving quantitative financial objectives and strategic personal objectives. The compensation structure was designed to motivate and incentivize outperformance, maintain stability, and retain top talent through business cycles.

Bonus

$3.50M

Board Justification

The bonus for 2023 was based on achieving quantitative Company financial objectives, such as adjusted EBITDA and free cash flow, as well as strategic personal objectives. The total maximum STI payout for 2023 was 200% of target, and the weighted payout range for each metric as a percentage of target was reflected by the outer bars in the 2023 STI Opportunity Mix chart.

Other

$174.85K

Board Justification

Other compensation includes unfunded credits to the Restoration Savings Plan ($94,493), employer contributions to the SLB 401(k) Plan ($16,500), financial planning services ($13,800), and housing allowance ($50,052).

Restricted Stock

$0.00(0 RSU)

Board Justification

Olivier Le Peuch did not vest in any stock awards in 2023 because he did not receive any LTI award in 2020.

Performance Metrics

The performance metrics for determining the CEO's compensation in 2023 included adjusted EBITDA, free cash flow, and strategic personal objectives, with a focus on achieving quantitative Company financial and non-financial objectives.

SEC Filing

From February 22, 2024

Olivier Le Peuch

CEO of Schlumberger

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Education

Master's degree in microelectronics from Bordeaux University of Science

Field of Expertise

Technology & Engineering - Engineering

Born

January 1, 1964 - 61 years ago

Is Founder?

No

Current Tenure

5 years 5 months (Aug 2019 - Present)

Previous Experience

Joined Schlumberger in 1987; held various global management positions