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John P. Gavin, CFA, is the founder and CEO of Disclosure Insight®, an independent publisher of investment research. Mr. Gavin has spent his entire career of over 25 years in the financial services industry. Prior to starting “DI” in 2000, he worked as an equity analyst and portfolio manager... More
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  • Upcoming Director Departures At Schlumberger Will Bring Tally To Nine Departures Since 2007 0 comments
    Jan 26, 2012 3:14 PM | about stocks: SLB

    On 23-Jan-12, Schlumberger Limited (NYSE: SLB reported that Philippe Camus (director since 2007) decided not to stand for re-election at the 2012 annual meeting scheduled to be held this coming April. Once consummated, this departure, along with the previously announced departure of Chairman Andrew Gould at the annual meeting, will bring the total number of director departures to 9 since 2007.

    While the departures of Camus and Gould came with ample notification before the fact, the trend over the past five years shouldn't be ignored. With the exception of 2011, the company has witnessed at least one director departure every year since 2007. So far, there are already 2 planned for 2012. It should also be noted that 3 of the 9 departures were individuals under the age of 60. Camas and Gould will depart from the board at the ages of 63 and 65, respectively, years below the company's mandatory retirement age.

    Themes: energy Stocks: SLB
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