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Bernard Duroc-Danner served as the CEO of Weatherford International, a major player in oilfield services, from 2012 until his departure in 2016. His leadership saw significant fluctuations in share prices, reflecting the company's performance and market conditions. Notably, in 2016,...

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Bernard Duroc-Danner

Ex-CEO of Weatherford International

Education

Not specified

Sector of Economy

Energy

Born

November 1, 1951 - 73 years ago

CEO of Weatherford International for

4 years 0 months (Nov 2012 - Nov 2016)

Previous Experience

Various roles at Weatherford International plc and other oilfield service companies

Holdings

See how much did Bernard Duroc-Danner make over time.

During his time as CEO, Bernard Duroc-Danner's holdings in Weatherford International fluctuated significantly. He had a substantial presence in the company's stock, with a peak valuation of over $6 million tied to vested stock options and other equity grants. However,...

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Total Stock Sold

$2.33M

WFRD

$2.33M

24,000 WFRD shares

What if they kept their stock?

If Bernard Duroc-Danner didn't sell their stock, today they would have:
Extra WFRD24,000 shares worth $307.44K.
This is -86.81% and $2.02M less than what they got when they sold the stock.

Insider Trading

See recent insider trades of Bernard Duroc-Danner.

CHK

$200.05K

CHK at $89.55/share

Jun 6, 2024

Received

WFRD

$2.33M

WFRD at $97.28/share

Feb 9, 2024

Sale

CHK

$200.06K

CHK at $79.17/share

Jun 8, 2023

Received

CHK

$200.04K

CHK at $92.10/share

Jun 9, 2022

Received

CHK

$300.03K

CHK at $43.71/share

Feb 22, 2021

Received

Compensation History

See how much did Bernard Duroc-Danner make over time.

In 2016, Bernard Duroc-Danner's total compensation reached about $31.1 million. His base salary was around $1.4 million, but what stands out is an additional $22 million categorized as "other" compensation, mainly from severance pay and termination-related benefits, indicating a significant payout as he exited the CEO position. While there were no cash bonuses for that year due to unmet performance targets, he did receive vested stock worth around $6.6 million, showing a strong focus on long-term performance incentives. This mix of pay highlights an approach where most of his earnings were at risk based on the company's ability to generate cash flow and maintain safety standards, aligning his interests with those of shareholders.

Year

2016

Total Compensation

$30.31M

Salary

$1.43M

Board Justification

The compensation program is designed to align executive compensation with performance, emphasizing long-term value creation for shareholders, with over 75% of compensation at-risk.

Bonus

$0.00

Board Justification

No annual cash incentive paid due to failure to achieve free cash flow threshold goal

Other

$22.26M

Board Justification

Includes severance payments and other compensation related to the termination of employment.

Restricted Stock

$6.63M(1.24M RSU)

Board Justification

Gross distribution of 965,986 shares of the Company’s stock with respect to RSUs upon termination of employment, with no vesting for 2016 of outstanding PSUs due to performance goals not being met.

Performance Metrics

Performance objectives based on generating free cash flow, increasing market share, reducing support ratio, and maintaining focus on safety.

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