Sundar PichaiSundar Pichai earned $164M in 2023
C

Richard A. Navarre

Ex-CEO of Civeo

Education

Bachelor's degree in Engineering from the University of Alberta.

Field of Expertise

Technology & Engineering - Engineering

Born

October 5, 1963 - 61 years ago

Economy Sector

Industrials

Tenure

4 years 4 months (Feb 2017 - Jul 2021)

Previous Experience

Served as a director of Civeo since May 2014, previously held various leadership roles in the energy sector.

Richard A. Navarre is the CEO and Chairman of Civeo Corporation. He has been in leadership at Civeo since 2014, overseeing the company’s growth in the energy sector. His background in engineering comes from his Bachelor's degree at the University...

Year

2021

Total Compensation

$3.36M

Salary

$744.81K

Board Justification

Civeo's compensation philosophy aims to attract, motivate, reward, and retain executives with the experience and talent to achieve short-term goals and successfully execute long-term strategic plans. The compensation structure is designed to align executive interests with those of shareholders and to ensure that compensation does not promote excessive risk-taking.

Bonus

$1.34M

Board Justification

The bonus is based on the Annual Incentive Compensation Plan (AICP) which rewards the achievement of defined annual financial and safety objectives. For 2021, the performance metrics included consolidated adjusted operating cash flow and safety performance, with a maximum payout of 120% for overachievement.

Other

$17.12K

Board Justification

Other compensation includes contributions to retirement plans and imputed income from life insurance benefits.

Restricted Stock

$1.26M(63.45K Phantom Share Units and Performance Shares)

Board Justification

The vested stock includes phantom share units and performance shares that were granted in 2021, with a vesting schedule of one-third per year for phantom units and cliff vesting for performance shares after three years.

Performance Metrics

The performance metrics for 2021 included consolidated adjusted operating cash flow, divisional EBITDA, and safety performance measured by Total Recordable Incident Rate (TRIR).