Schlumberger Limited (SLB, Financial) has announced that Khaled Al Mogharbel will step down from his role as Executive Vice President, Geographies, effective May 1, 2025. This decision marks the end of a distinguished 30-year career with the company, during which Mr. Al Mogharbel made significant contributions to advancing safety, technology, and customer centricity.
In a strategic move to ensure a smooth transition, Mr. Al Mogharbel has entered into an agreement to serve as an Advisor to SLB’s Chief Executive Officer until May 1, 2028. This role will involve supporting the transition of the Geographies organization and operations. The agreement includes several restrictive covenants, such as a three-year non-competition and non-solicitation clause, as well as confidentiality and non-disparagement undertakings.
In recognition of his advisory services and adherence to the agreement's terms, Mr. Al Mogharbel will receive an annual cash payment equal to 75% of his current base salary for three years. He will also continue to participate in SLB’s health, welfare, and insurance plans, accrue benefits under the company's pension and savings plans, and receive a prorated cash incentive award for 2025. Additionally, his outstanding long-term equity incentive awards will continue to vest according to their original terms.
SLB retains the right to cease payments and cancel equity awards if the agreement's terms are breached. The full text of the agreement will be available in SLB’s Quarterly Report on Form 10-Q for the quarter ending June 30, 2025.
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