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Compensation Committee News

07 Mar 2022

Gulf Island Chairman Flick to Retire

Gulf Island Fabrication, Inc., a steel fabricator and service provider to the industrial and energy sectors, today announced that its Chairman of the Board of Directors, Michael A. Flick, will retire effective upon the expiration of his current director term in connection with the company’s 2022 annual meeting of shareholders. With Flick’s retirement, the Board will be reduced to six members.Flick has served as a director of the company for 15 years and as Chairman of the Board since 2020. He also has served, at various times, as a member of the Audit Committee, member and Chairman of the Compensation Committee, and member and Chairman of the Corporate Governance & Nominating Committee.The Board unanimously elected William E.

26 Jan 2022

Stolt-Nielsen CEO to Step Down after More Than Two Decades in Position

Niels G. Stolt-Nielsen has decided to step down from his role as Chief Executive Officer of chemical tanker operator Stolt-Nielsen Limited. Photo courtesy Stolt-Nielsen

Niels G. Stolt-Nielsen has decided to step down from his role as Chief Executive Officer of chemical tanker operator Stolt-Nielsen Limited.The company said Wednesday he'd continue as CEO and as a Director on the Board until the appointment process for a successor has been completed. Niels G. Stolt-Nielsen has served as Chief Executive Officer of Stolt-Nielsen Limited since November 2000 and has been a Director since 1996."The intention is that once a suitable replacement is found, Mr. Niels G.

27 Nov 2016

Designees to The TechnipFMC Board Announced

Technip S.A. (Euronext: TEC) and FMC Technologies, Inc. (NYSE: FTI) today announced their respective designees to the Board of Directors of the combined company, TechnipFMC, effective at the close of the proposed combination. The Board of Directors of the combined company will comprise 14 directors, seven designated by FMC Technologies and seven designated by Technip as set forth below. FMC Technologies will appoint the initial Independent Lead Director, in accordance with the terms of the Business Combination Agreement. The Board of Directors will have four committees: Audit, Nominating and Governance, Compensation, and Strategy. The committee chairs and Independent Lead Director are indicated below. ď‚· Douglas J. ď‚· Claire S. ď‚· Richard A. ď‚· Kay G. ď‚· James M.

09 Apr 2015

Reed Nominated to Caterpillar Board

Caterpillar Inc. announced today that the Caterpillar Board of Directors has nominated Debra L. Reed to join the Board, with the election to occur at the June 2015 annual stockholders meeting. Reed, 58, is the Chairman and CEO of Sempra Energy, a San Diego, California-based energy company. She began her Sempra Energy career in 1978 as an engineer and worked her way into leadership positions at Sempra Energy, as well as Southern California Gas Co. and San Diego Gas & Electric, Sempra Energy’s two regulated California utilities. “Energy is core to our business at Caterpillar, so having a Board member who has spent her entire 37-year-career at one company in this industry will greatly benefit our company,” said Caterpillar Chairman and CEO Doug Oberhelman.

01 Apr 2015

S.Korea to Pay $380,000 to Ferry Victims Families

The South Korean government said on Wednesday it would pay about 420 million won ($380,000) as compensation for each of the 250 students who died or remain missing from last year's ferry disaster, in the first settlement offer to victims' families. The families of 11 teachers who died in the disaster will each receive about 760 million won, the higher amount to account for lost income, the Ministry of Oceans and Fisheries said. Other passengers will receive between 150 million won and 600 million won, depending on their age and income, it said. More than two-thirds of the 476 passengers on board the doomed Sewol ferry were students on a school trip. Many of them died trapped in the vessel following orders by the crew to stay in their cabins as it capsized and sank on April 16 last year.

19 May 2014

Transocean Agrees US$3.0 Dividend

Shareholders have approved a dividend of $3.00 per share (or approximately $1.1 billion in the aggregate (based upon the number of currently outstanding shares), out of additional paid-in capital and most other proposals at the 2014 Annual General Meeting, inform Transocean. The Board expects that the dividend will be payable in four quarterly installments set for June 2014, September 2014, December 2014 and March 2015. In addition, shareholders elected all director nominees and all compensation committee nominees, and confirmed Ian C. Strachan as Chairman of the Board of Directors. The Board's authority to issue shares out of authorized share capital for a new two-year period. This authority is limited to approximately six percent of the company's currently issued share capital.

23 Apr 2014

McDermott Elect G.P. Luquette Board Chairman

Provider of integrated engineering, procurement, construction and installation (EPCI) services for upstream field developments worldwide, McDermott International, say that Gary P. Luquette has been elected as non-executive Chairman of McDermott’s Board of Directors, effective May 6, 2014. The company informs that Mr. Luquette has served as a member of McDermott’s Board of Directors since October 18, 2013. He retired from his position as President, Chevron North America Exploration and Production, a unit of Chevron Corporation, in September 2013, following 35 years of service with Chevron. •    William H. •    David A. •    Steven G. •    Mary L. “I would like to thank D.

19 Sep 2013

GulfMark Offshore Elects Two New Board Members

GulfMark Offshore, Inc. (NYSE:GLF) has announced the election of Steven W. Kohlhagen and Charles K. Valutas to its Board of Directors for terms expiring in June 2014. Steven W. Kohlhagen is a retired financial executive who brings to the Board expertise in financial accounting, finance and risk management through his extensive experience in, and knowledge of, the financial, securities and foreign exchange markets. He has held various positions in the private sector, including investment banking, asset management, and most recently as a consultant with AMETEK, Inc. He currently serves on the Board of Directors, the Business and Risk Committee and the Compensation Committee of Freddie Mac. He also serves on the Boards of Directors for Abtech Holdings, Inc., Reval Inc.

11 Jun 2013

Rand Makes Corporate Governance Changes

Rand Logistics, Inc. announced that Laurence Levy has been appointed as Executive Chairman, with responsibilities that include overseeing corporate strategy including growth and acquisition initiatives, corporate culture, and organization building. Mr. Levy formerly served as Chairman and Chief Executive Officer of Rand. Rand's Chief Executive Officer position will remain unfilled. "Today's announcement reflects the collective view of our independent directors and management team as to the most efficient operating structure for Rand as well as the maturation of our Corporate Governance," commented Laurence Levy. "Under our new structure…

03 Jun 2013

NOL Appoints Tom Behrens-Sørensen to Board

NOL Group announced thatTom Behrens-Sørensen will join its board of directors July 1 and will serve as a member of both the Executive Resource and Compensation Committee and the Enterprise Risk Management Committee. A shipping veteran with more than three decades of international experience, Mr. Behrens-Sørensen has a distinguished track record as a business first-mover in Europe, Australia and across Asia – particularly in India and China. Mr. Behrens-Sørensen’s career included a 30-year tenure at A.P. Moller-Maersk, where he held several senior leadership roles. Notably, he led the company’s successful expansion into China from 1994 through 2009, and built strong relations with key local government officials and industry decision makers. Based in Beijing, Mr.

10 May 2011

Saipem: BOD Appoints Chairman, CEO, Deputy CEO

San Donato Milanese, 9 May 2011 - The Board of Directors of Saipem S.p.A., convened and following the resolutions taken by the Shareholders’ Meeting on May 4, 2011, approved the appointments of the Chairman, Deputy Chairman and CEO and Deputy CEO of Saipem S.p.A. It also ascertained the independence requirements for Board Directors and Statutory Auditors and appointed the members of the internal Board Committees. The Board of Directors applied the evaluation criteria set forth in the Corporate Governance Code to ascertain that the Directors Galateri di Genola…

09 Mar 2011

Omega Navigation Enterprises, Inc. Announces a Change in the Composition of tts Board of Directors

Omega Navigation Enterprises, Inc. (NASDAQ:ONAV), a leading provider of Global Marine Transportation services specializing in product tankers, announces that Matthew W. McCleery has stepped down from its Board of Directors and Audit Committee and Compensation Committee effective as of March 1, 2011. Mr. McCleery has been a member of the Board of Directors of the Company since April, 2006. His resignation, which was a mutual decision between him and the Company, will allow him to take a more active role in and devote more time to the Company in the area of new business development and planning.

18 Dec 2009

Horizon Lines Ends Perquisites for Execs

Horizon Lines, Inc. (NYSE: HRZ) announced that it is eliminating all perquisites for its four named executive officers, effective at the end of the year. The Compensation Committee of the Board of Directors approved the decision after a comprehensive review in conjunction with a company-wide effort to eliminate perquisites at all levels of the organization as part of a broader, ongoing cost-reduction initiative. "We believe the perquisite elimination for executive officers is consistent with emerging best practices in corporate governance," said Chuck Raymond, Chairman, President and Chief Executive Officer. The eliminated perquisites include…

09 Dec 2009

Bates, Jr. Chairman at Hercules Offshore

Hercules Offshore, Inc. (NASDAQ: HERO) announced that Chairman John T. Reynolds submitted his resignation from the company's board of directors, effective December 31, 2009, to focus on other business interests and his role as co-founder and managing director of Lime Rock Management L.P. Thomas R. Bates, Jr., who has been a director of Hercules Offshore since the company's inception in 2004, will assume the role of Chairman upon Reynolds' departure. Bates served as President of the Discovery Group of Baker Hughes Inc., President and Chief Executive Officer of Weatherford/Enterra, Inc. and as President of Anadrill at Schlumberger Limited, among other positions. Bates received a Bachelor's, Master's and a Ph.D. in mechanical engineering from the University of Michigan.

17 Dec 2008

Ambassadors Int’l CEO Foregoes Comp Pkg

Ambassadors International, Inc. (NASDAQ:AMIE) announced that Joseph J. Ueberroth, Chairman and Chief Executive Officer, voluntarily foregoes the compensation entitled to him under his employment agreement dated November 2, 2006. Under the terms of that agreement, Mr. Ueberroth was entitled to receive approximately $3m in cash (up to $6m in certain circumstances) compensation due in September 2009. In addition, he decided to forego his 2008 long-term compensation with a value of approximately $750,000 that was due per his contract in stock. Mr. Ueberroth offered to forego the compensation at a recent meeting of the Company's Board of Directors, and to work in any capacity that the Board decided would be in the best interest of the company.

22 Oct 2003

GlobalSantaFe Announces 3Q Earnings

Worldwide oil and gas drilling contractor GlobalSantaFe Corp. reported net income for the third quarter ended September 30, 2003, of $15.1 million, or $0.06 per diluted share, on revenues of $458.1 million, as compared to net income of $75.0 million, or $0.32 per diluted share, on revenues of $514.4 million for the same quarter in 2002. For the nine months ended September 30, 2003, GlobalSantaFe reported net income of $104.9 million, or $0.45 per diluted share, on revenues of $1,408.5 million, as compared to net income of $225.5 million, or $0.95 per diluted share, on revenues of $1,504.8 million for the corresponding period in 2002.

04 May 2005

Todd M. Hornbeck Elected as Chairman of the Board of Hornbeck Offshore

Hornbeck Offshore Services, Inc. announced that, in a Board of Directors meeting following its 2005 Annual Stockholders' Meeting, Todd M. Hornbeck was elected to the position of Chairman of the Board, in addition to his current position as President and Chief Executive Officer. Also, Bruce W. Hunt was designated as Lead Independent Director for the Board for the calendar year 2005. Mr. Bernie W. Stewart, who has served as Chairman since February 2002, will continue to serve as an independent director of the Company. Mr. Stewart will also continue to chair Hornbeck Offshore's compensation committee and serve on the audit, nominating and corporate governance committees. Mr.

11 Jun 2003

New Directors Named at NOL

Neptune Orient Lines (NOL) has appointed Ang Kong Hua and Willie Cheng Jue Hiang, to the Board of Directors, and confirmed Ron Widdows as CEO of its container transportation unit, APL. Ang Kong Hua becomes a Vice Chairman of the Board, joining Dr Friedbert Malt in this role, and will sit on both the Board’s Executive Committee and Nominating Committee. Willie Cheng Jue Hiang will serve on the Audit Committee in addition to his responsibilities as a member of the full Board. NOL Group Chairman Cheng Wai Keung said both Ang Kong Hua and Mr Willie Cheng offered a valuable breadth of skills and management experience in the global business arena. Mr Ang Kong Hua is President of NatSteel, a listed Singapore-based manufacturing group.

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