Nigel J. Jenvey
About Nigel J. Jenvey
Independent director since April 2021; age 52. Executive – Strategy & Growth Initiatives at Baker Hughes; previously Global Head of Carbon Management at Gaffney, Cline & Associates (Baker Hughes), with eight years at BP as Global Head of CCUS, and senior technical roles at Maersk Oil and Shell; began career at Texaco in 1995 (North Sea operations). Education: BEng (Hons) Mining Engineering, University of Leeds; Diploma and MSc Petroleum Engineering, Imperial College London .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Baker Hughes | Executive – Strategy & Growth Initiatives | Current | Represents BH on Texas Railroad Commission’s Hydrogen Production Policy Council and Industry Governance Board for Future Use in Energy in Louisiana |
| Gaffney, Cline & Associates (Baker Hughes) | Global Head of Carbon Management | Prior to current | Led carbon management consultancy; board member for Ekona Power investment and Long Duration Energy Storage Council |
| BP | Global Head of CCUS | 8 years | Chaired CO2 Capture Project consortium; chaired North American CCS Association |
| Maersk Oil | Technical Director of Carbon & Climate | Not disclosed | Led carbon/climate initiatives |
| Royal Dutch Shell | Managerial and project leadership roles; EOR Center of Expertise; European operations | Not disclosed | Led global EOR expertise; European ops leadership |
| Texaco | Petroleum Engineer (North Sea) | From 1995 | Offshore production supervision |
External Roles
| Organization | Role | Status/Notes |
|---|---|---|
| Texas Railroad Commission – Hydrogen Production Policy Council | Baker Hughes representative | Policy advisory role |
| Industry Governance Board – Future Use in Energy in Louisiana consortium | Baker Hughes representative | Governance of energy transition initiatives |
| Ekona Power | Board member (for Baker Hughes’ interests) | Hydrogen technology investment oversight |
| Long Duration Energy Storage Council | Board member (for Baker Hughes’ interests) | Energy storage industry governance |
Board Governance
| Item | Detail |
|---|---|
| Board independence | Independent director; Board determined Nigel J. Jenvey is independent under NYSE standards |
| Committees (2025) | Compensation Committee (member); Nominating & Corporate Governance Committee (member); Safety & Sustainability Committee (Chair) |
| Prior committee service (2024) | Audit Committee (member); Nominating & Governance (member); Safety & Sustainability (Chair) |
| Attendance | Board held 7 meetings in 2024; each director attended at least 75% of Board and applicable committee meetings; all directors attended the 2024 annual meeting |
| Lead Independent Director | Donald J. Tringali |
| Executive sessions | Regularly scheduled sessions of non-management directors; independent-only sessions led by Lead Independent Director |
| Governance signals | Board renamed/updated Safety & Sustainability charter; Jenvey chairs SS&E, reflecting focus on safety and environmental stewardship |
Fixed Compensation
| Year | Fees Earned or Paid ($) | Stock Awards ($) | Option Awards ($) | Total ($) |
|---|---|---|---|---|
| 2024 | 72,500 | 109,983 | — | 182,483 |
| 2023 | 75,357 | 100,003 | — | 175,360 |
- Structure (2024): Non-employee director cash retainer $55,000 (H1) rising to $70,000 (H2); Committee Chair fee $15,000; Lead Independent Director +$17,500; non-employee Chairman +$35,000; directors receive annual RSUs with ~$110,000 fair value; D&O insurance cost $307,353 .
Performance Compensation
- Directors receive time-vested RSUs; no performance-vesting or bonus metrics for directors disclosed .
- Companywide clawback policy applies to incentive compensation (executives) and equity awards under the 2019 Plan; insider trading policy prohibits hedging/pledging .
Other Directorships & Interlocks
| Company | Public? | Role | Potential interlocks/conflicts |
|---|---|---|---|
| Natural Gas Services Group, Inc. | Yes (NYSE) | Independent Director | None disclosed |
| Ekona Power | No (private/venture) | Board member (BH investee) | No related-party transactions disclosed by NGS |
| Long Duration Energy Storage Council | Industry org | Board member | No related-party transactions disclosed by NGS |
- NGS discloses no related-party transactions and no compensation committee interlocks; all compensation committee members are independent .
Expertise & Qualifications
- Deep carbon management/CCUS expertise; leadership across oil & gas majors; technical depth (EOR, operations) and industry governance roles; testified to U.S. Congress on CO2 capture; editor of Decarbonization feature in SPE Journal of Petroleum Technology; peer reviewer to IEA .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Class | Notes |
|---|---|---|---|
| Nigel J. Jenvey | 24,593 | <1% | Includes 5,620 RSUs vesting ~June 13, 2025; no shares pledged by any officers/directors as of Apr 25, 2025 |
- Stock ownership guidelines: Directors must hold at least 4× annual cash retainer (measured at prior year average price) .
Insider Trades and Section 16 Compliance
| Year | Form 4 Timeliness | Notes |
|---|---|---|
| 2024 | Timely for Jenvey | Company notes all insiders filed on time except one late Form 4 by Georganne Hodges; no late filing attributed to Jenvey |
Compensation Committee Analysis (context for board effectiveness)
- Committee members (2025): Chair Jean K. Holley; members Donald J. Tringali, Georganne Hodges, Nigel J. Jenvey; 7 meetings in 2024; independent consultant Zayla Partners; no interlocks .
- Shareholder outreach (2024): Reached 19 institutions (~66% outstanding; ~71% float); Lead Independent engaged 11 holders (~46% outstanding); drove adjustments to STIP (Adjusted EBITDA focus, safety/environment metrics) and LTIP (50% PSUs, target set at 62.5th percentile) .
Performance & Track Record (NGS context during Jenvey’s tenure)
| Period End | Stock Price | TSR since 1/1/2021 |
|---|---|---|
| 12/31/2024 | $26.80 | 182.7% |
Governance Assessment
- Strengths: Independent status; active committee leadership (chairs Safety & Sustainability); robust attendance; deep sustainability/CCUS expertise well-aligned with SS&E oversight; no related-party transactions; strong insider compliance; clear ownership guidelines; board conducts investor engagement and compensation best-practice reforms .
- Watch items: External employment at Baker Hughes could present situational conflicts if NGS transacts with BH or affiliates—none disclosed; continue monitoring related-party disclosures and SS&E performance metrics execution .
- Shareholder signals: Say-on-Pay approval improved to >50% in 2024 but below target; 2023 approval 72.6%; board responded with outreach and program redesign—positive governance responsiveness .