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Robert L. Long served as the CEO of Transocean from 2006 until his retirement in early 2010. His leadership spanned critical years in the oil and gas drilling industry, where he helped guide the company through significant challenges. Long made...

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Robert L. Long

Ex-CEO of Transocean

Education

Bachelor's degree in Business Administration from the University of Texas at Austin

Field of Expertise

Business & Management

Sector of Economy

Energy

Born

December 31, 1946 - 78 years ago

CEO of Transocean for

7 years 5 months (Oct 2002 - Mar 2010)

Previous Experience

Various senior management roles at Transocean since 1976

Holdings

See how much did Robert L. Long make over time.

Robert L. Long held prominent positions at Transocean, with a marked impact on the company’s shares. During his time there, he was granted multiple stock options, focusing on aligning his interests with shareholder value. At the end of 2009, he...

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Insider Trading

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Compensation History

See how much did Robert L. Long make over time.

In 2010, Robert L. Long's total compensation from Transocean hit about $15 million. This included a base salary, a huge retirement distribution, and other benefits that supported his exit strategy during the company’s transition. Notably, despite a year with no bonuses due to prior safety incidents, his retirement allocation included a substantial amount aimed at easing his move out of the firm. His compensation package was designed to align with the long-term interests of shareholders, reflecting his focus on performance, safety, and financial stability. This approach ensured a connection between executive rewards and company results, serving as a motivating factor in a high-stakes environment like the drilling industry. Over his time there, he was also noted for not having stock awards vest while all options were accelerated upon retirement, a common protocol for departing executives in his position, tying into the overall philosophy of executive compensation to match shareholder interests.

Year

2010

Total Compensation

$14.62M

Salary

$219.23K

Board Justification

The compensation philosophy aims to align executive compensation with company performance and shareholder interests, ensuring competitive compensation to attract and retain talent.

Bonus

$0.00

Board Justification

No bonus was awarded for 2010 due to retirement prior to the end of the performance period.

Other

$14.40M

Board Justification

This includes a retirement distribution of $13,887,691, cost of living adjustment, automobile allowance, housing allowance, moving expenses, Swiss individual tax payments, tax equalization payment, contributions to savings plan, life insurance premiums, tax gross up for perquisites, and fees for financial planning and club membership.

Restricted Stock

$0.00(0 N/A)

Board Justification

No stock awards were vested in 2010 as all stock options and time-vested restricted share awards were accelerated upon retirement.

Performance Metrics

Performance metrics for 2010 included safety performance, cash flow value added, newbuilds, and enterprise resource planning.

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