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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Schlumberger Limited    SLB   AN8068571086

SCHLUMBERGER LIMITED

(SLB)
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Schlumberger Elevates Le Peuch to CEO as Kibsgaard to Retire -- 2nd Update

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07/19/2019 | 03:09pm EDT

By Colin Kellaher

Schlumberger on Friday said Paal Kibsgaard will retire as chairman and chief executive, effective Aug. 1.

The Houston oilfield-services company said Olivier Le Peuch, currently chief operating officer, will succeed Mr. Kibsgaard as chief executive and join the board on that date.

Schlumberger said Mark Papa, one of the pioneers of the U.S. shale boom who joined the board as a non-independent director in October, will become non-executive chairman, while Peter Currie will continue to serve as lead independent director.

Mr. Papa, the former chief executive of shale-industry bellwether EOG Resources, is currently chairman and chief executive of smaller independent shale company Centennial Resource Development.

Mr. Le Peuch, who has spent 32 years with Schlumberger, was named chief operating officer in February, a move seen as a signal that he was in line to succeed Mr. Kibsgaard at the helm.

Schlumberger said in a Securities and Exchange Commission filing that its board approved an increase in Mr. Le Peuch's annual base salary to $1.4 million and an annual cash incentive range from 0% to 150% of his base salary. The board also approved a performance share unit grant with a grant date fair value of about $10.5 million, the company said in the filing.

Both Mr. Kibsgaard and his predecessor, Andrew Gould, each served as chief operating officer for just over a year before moving into the top post.

Mr. Kibsgaard, who joined Schlumberger in 1997, has been chief executive since August 2011 and chairman since April 2015. He is also retiring from the board, the company said.

--Michael Dabaie contributed to this article.

Write to Colin Kellaher at colin.kellaher@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
BASE CO., LTD. 0.00% 5620 End-of-day quote.107.89%
BASE,INC. -5.72% 10710 End-of-day quote.510.26%
CENTENNIAL RESOURCE DEVELOPMENT, INC. -11.88% 0.6522 Delayed Quote.-85.88%
EOG RESOURCES, INC. -4.67% 38.81 Delayed Quote.-53.67%
SCHLUMBERGER LIMITED -7.80% 17.27 Delayed Quote.-57.04%
SCHLUMBERGER LIMITED -7.48% 14.85 Real-time Quote.-58.64%
THE LEAD CO., INC. -1.60% 369 End-of-day quote.-5.38%
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Financials (USD)
Sales 2020 23 589 M - -
Net income 2020 -10 829 M - -
Net Debt 2020 13 837 M - -
P/E ratio 2020 -2,21x
Yield 2020 5,15%
Capitalization 23 973 M 23 973 M -
EV / Sales 2020 1,60x
EV / Sales 2021 1,67x
Nbr of Employees 105 000
Free-Float 96,6%
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Technical analysis trends SCHLUMBERGER LIMITED
Short TermMid-TermLong Term
TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 24,86 $
Last Close Price 17,27 $
Spread / Highest target 178%
Spread / Average Target 43,9%
Spread / Lowest Target -7,35%
EPS Revisions
Managers
NameTitle
Olivier Le Peuch Chief Executive Officer & Director
Mark G. Papa Non-Executive Chairman
Stephane Biguet Chief Financial Officer & Executive Vice President
Demosthenis Pafitis Chief Technology Officer
Nikolay Kudryavtsev Independent Director
Sector and Competitors
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