Elspeth Inglis
ArchrockAbout Elspeth Inglis
Elspeth A. Inglis (age 56) is Senior Vice President and Chief Human Resources Officer (CHRO) at Archrock, Inc., serving since 2019, with prior leadership roles spanning Baker Hughes/GE Oil & Gas, Reliance Industries, and CGG, and HR certifications including Graduate Member of the UK Institute of Personnel Development and Senior Practitioner of Human Resources in the U.S. . Her education and credentials include HR and management programs at Rice University and Henley Business Management School (University of Reading, UK) and an associate degree from University of the Arts London . During her tenure, Archrock delivered strong 2024 outcomes: EPS +~57% YoY, record 96% fleet utilization, contract operations gross margin up 500 bps to 67%, net income +64%, and Adjusted EBITDA up “more than 30%,” underscoring operational tailwinds supporting human capital execution . Over 2022–2024, Archrock’s TSR-based long-term plan paid at 200% as the company ranked 1st versus its peer group, indicating material equity value creation during the period .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Archrock | SVP & Chief Human Resources Officer | 2019–Present | Leads enterprise HR strategy, retention, safety-linked incentives, and human capital programs aligned to performance and sustainability metrics . |
| Baker Hughes | Vice President, Culture Integration (during BH–GE O&G merger) | 2016–2019 | Drove culture/integration programs in large-scale energy merger context . |
| GE Oil & Gas | Head of HR, Downstream Technology Services | 2013–2016 | HR leadership for global manufacturing operations . |
| Reliance Industries | Vice President, Human Resources (US shale startup) | 2011–2013 | Built HR for U.S. unconventional entry; talent and org buildout . |
| CGG | Multiple roles incl. Marine HR Manager; VP HR Western Hemisphere; SVP Geophysical Services (Paris) | 2002–2009 | HR leadership across geophysics; global org and talent development . |
| Enron | Human Resource Manager (London & Houston) | 1999–2001 | HR business partner roles in energy . |
| Earlier (Total; Corporation of London) | Various roles | 1987–1999 | Early-career HR/people leadership in energy and public sector contexts . |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Catholic Charities | Director; Human Resource Committee member | Not disclosed | Governance and HR oversight at a non-profit . |
| Workforce Next | Advisory Board Member | Not disclosed | Advisory role on workforce and HR issues . |
Fixed Compensation
- Not disclosed for Ms. Inglis in the 2025 proxy; she is not a Named Executive Officer (NEO). The proxy provides fixed pay details only for Archrock’s NEOs (CEO, CFO, GC, SVPs of Sales/Ops) .
Performance Compensation
While Ms. Inglis’s specific targets and payouts are not disclosed (non-NEO), Archrock’s 2024 executive incentive architecture (applied to NEOs) indicates the compensation levers and metrics likely cascading across senior leadership.
-
2024 Short‑Term Incentive (NEO framework)
- Core metrics and weights (company-wide): Adjusted EBITDA (70–80% by role), Sustainability (environmental, safety, talent) 20%, plus operating unit goals where applicable; individual performance modifiers used (potential 0–200% payout) .
- 2024 results: Adjusted EBITDA target $518M vs. $559M after TOPS adjustment (179% payout factor), Sustainability metrics at/above target (payout matched Adjusted EBITDA factor), leading to NEO payout factors ~173–179% .
-
2024 Long‑Term Incentive (NEO framework; 3-year vest, 60/40 time/performance)
- Time-based RS/RSUs (60%); Performance Units (40%) split among CAD (cash available for dividend), Leverage, and TSR, with 0–200% (TSR up to 250%) payout ranges over 2024–2026 .
- 2022–2024 performance cycle paid at 200% for TSR (1st rank), CAD (>$752M), and Leverage (2.9x), evidencing strong multi-year outcomes .
| 2024 Short-term metrics (NEO design) | Weight | 2024 outcome |
|---|---|---|
| Adjusted EBITDA | 70–80% | $559M achievement used for payout factor (~179% of target) . |
| Sustainability – Environmental | 5% | Mileage per avg operating HP reduced 1.6% (>1% target) . |
| Sustainability – Safety (TRIR/PVIR) | 10% | TRIR 0.09 (ex-TOPS) vs target ≤0.50; PVIR 0.31 (ex-TOPS) vs target ≤0.50 . |
| Sustainability – Talent | 5% | Voluntary turnover 10.6% vs goal ≤17.5% . |
| 2024 Long-term metrics (NEO design) | Target | Max | Payout range |
|---|---|---|---|
| Cumulative CAD (2024–2026) | $975M | $1,170M | 0–200% . |
| Leverage at end (2024–2026) | 3.25x | ≤2.75x | 0–200% . |
| TSR (absolute and relative) | Matrix-based | Top: 250% | 0–250% . |
- 2025 design changes: LTI mix shifts to 50% time-/50% performance-based; Leverage metric removed (CAD and TSR retained) .
Equity Ownership & Alignment
- Beneficial ownership (shares, options, pledged, vested/unvested) for Ms. Inglis is not disclosed in the 2025 proxy; the ownership table covers directors and NEOs only . Archrock had no stock options outstanding for NEOs at 12/31/24, signaling emphasis on RS/RSUs and performance units over options .
- Stock ownership guidelines: CEO 5x base salary; other NEOs 2x; review annually; unearned performance units excluded from compliance. Coverage is explicit for NEOs; broader officer coverage not specified in the proxy .
- Hedging/pledging: Company policy prohibits short sales, hedging, and pledging/hypothecation for all employees and directors, reinforcing alignment and reducing downside-insurance behavior .
- Clawback: NYSE-compliant policy effective Oct 2, 2023 requires recovery of erroneously awarded incentive compensation after restatements; applies to “Officers” as defined by SEC rules, a category that includes senior roles beyond NEOs .
Employment Terms
- Ms. Inglis’s employment letter, severance, and change-of-control (CoC) economics are not disclosed (non-NEO). For context, Archrock maintains severance and CoC agreements for NEOs, structured as:
- Severance (without cause/for good reason): cash equal to base + target bonus plus pro-rata bonus; partial acceleration of next vesting tranche with proportional treatment for performance units depending on year; 12 months COBRA subsidy .
- CoC (double-trigger): 2x cash (base + target bonus) for NEOs (3x for CEO), full acceleration of equity, 24 months COBRA subsidy, and “best pay” cutback—no excise tax gross‑up .
- Non-compete and non-solicit: CoC payments trigger two-year confidentiality, non-disclosure, non-solicitation, and non-competition obligations for NEOs; applicability to Ms. Inglis is not specified .
Performance & Track Record
| Indicator | 2024 outcome | Notes |
|---|---|---|
| EPS growth YoY | ~+57% | Supports pay-for-performance and human capital investment returns . |
| Net income growth YoY | +64% | Strong profitability trend . |
| Adjusted EBITDA growth YoY | >+30% | Multi‑year plan alignment; non-GAAP defined in filings . |
| Fleet utilization (period end) | 96% | Record level, second consecutive year . |
| Contract operations gross margin | 67% (↑ 500 bps YoY) | Operating leverage improvement . |
| 2022–2024 TSR plan | 200% payout | Rank 1st vs peers; CAD and Leverage also at 200% . |
| Say‑on‑pay (2024 vote on 2023 program) | 88% approval | Below five‑year 95%+ avg; drove 2025 design tweaks . |
Compensation Structure Analysis
- Alignment and risk: Heavy at‑risk pay with multi-year PSU metrics (CAD, TSR) and annual EBITDA/sustainability measures; clawback and anti‑hedging/pledging reduce misalignment risk .
- Mix evolution: 2025 LTI tilts further toward performance (50/50 vs. 60/40), enhancing accountability to shareholder outcomes .
- Governance: Double-trigger CoC; no tax gross‑ups; independent comp consultant (Pearl Meyer); bi-annual risk assessments indicate no material pay-related risk concerns .
- Peer benchmarking: Diverse midstream/oilfield services peer set; target positioning between 50th–75th percentile with role/impact adjustments .
Risk Indicators & Red Flags
- Hedging/pledging: Prohibited for employees and directors (mitigates a common red flag) .
- Option repricing: Not indicated; no options outstanding for NEOs as of year‑end 2024 .
- Related party: Board includes a director affiliated with Hilcorp/Harvest; ~$41.7M revenue with related parties in 2024; monitored under policy and recusal protocols .
- Section 16(a): 2024 administrative late Form 4s tied to NEO performance award vesting and a director’s retainer election; subsequently corrected .
Equity Ownership & Trading Pressure (Ms. Inglis-specific)
- Not disclosed in the 2025 proxy; management ownership table covers directors and NEOs only, and no Form 4 data for Ms. Inglis is included in the cited filings. No pledging permitted by policy; vesting schedules for her awards (if any) are not publicly detailed .
Compensation Peer Group (for benchmarking)
- 2024 compensation peer set spans midstream and oilfield services (e.g., ChampionX, Helmerich & Payne, Patterson‑UTI, DNOW, EnLink, Oceaneering, Oil States, NuStar, Summit Midstream, etc.), supporting market‑aligned pay design and talent market relevance .
Say‑on‑Pay & Shareholder Feedback
- Say‑on‑pay: 88% approval in 2024 prompted increasing performance‑based LTI to 50% and retiring the Leverage metric for 2025 while retaining CAD and TSR, aligning with investor preferences for performance rigor .
Expertise & Qualifications
- Deep HR leadership across M&A integration (Baker Hughes–GE O&G), global manufacturing, and U.S. shale entry; HR certifications in the UK and U.S.; governance experience via non‑profit board service .
Investment Implications
- Incentive levers: Company‑wide metrics embedded in STIP (EBITDA, safety, retention) and LTI (CAD/TSR) align human capital priorities with cash generation and shareholder returns, a positive for culture and retention—key areas under a CHRO’s span .
- Retention risk: Ms. Inglis’s specific employment terms and equity holdings are undisclosed, limiting visibility into personal retention incentives; however, enterprise-wide design (multi-year vesting, anti‑hedging/pledging, clawback) and robust 2024 performance reduce near‑term misalignment risk .
- Trading signals: No disclosed holdings or Form 4 activity for Ms. Inglis in cited documents; absent data on vested/unvested balances, insider selling pressure cannot be assessed (neutral signal), though policy forbids pledging and hedging .
- Governance quality: Independent Compensation Committee with consultant oversight, double‑trigger CoC, and removal of leverage metric in 2025 improve quality of incentives; continued strong execution metrics and TSR outperformance during 2022–2024 underpin management credibility .