Bill Lacey
TransoceanAbout William F. “Bill” Lacey
Age 55. Executive Vice President and CFO of Woodward, Inc. (since May 2023). Previously VP Finance for Amazon’s Books & Kindle Content (2022–2023), CEO of GE Lighting at GE (2016–2020) and then at Savant Systems (2020–2022), CFO roles at GE Home & Business Solutions Lighting (2011–2016), GE Healthcare Medical Diagnostic (2007–2011), and GE Wind Energy (2002–2005). Bachelor’s in Accounting and Business Management, Florida A&M University, 1992 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Woodward, Inc. | Executive Vice President & CFO | May 2023–present | Senior financial leadership in aerospace/energy systems |
| Amazon (Books & Kindle Content) | Vice President, Finance | 2022–2023 | Platform finance leadership |
| GE Lighting (GE) | President & CEO | 2016–2020 | Led lighting portfolio pre-sale to Savant |
| GE Lighting (Savant Systems) | President & CEO | 2020–2022 | Led post-acquisition integration/operations |
| GE Home & Business Solutions Lighting | President & CFO | 2011–2016 | P&L and financial leadership |
| GE Healthcare Medical Diagnostic | CFO | 2007–2011 | Finance leadership in diagnostics |
| GE Wind Energy | CFO | 2002–2005 | Finance leadership in wind energy |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Parker-Hannifin Corporation | Director | 2021–2023 | Prior public company directorship |
| Woodward, Inc. | Executive Vice President & CFO | 2023–present | Current executive role (not a board seat) |
Board Governance
- Status: Director nominee; elected at AGM agenda item 6H (May 30, 2025) as part of board succession; independence marked ✓ in proxy matrix .
- Committee assignments: To be determined by Board after election (footnote confirms TBD) .
- Board attendance: Current directors had 100% board/committee attendance in 2024; Lacey was not yet on the board in 2024 .
- Lead Independent Director: Upon succession, Chadwick C. Deaton transitions to Lead Independent Director; independent directors hold executive sessions each regular meeting .
Fixed Compensation
| Component | Amount (USD) | Notes |
|---|---|---|
| Annual cash retainer (non-employee director) | $100,000 | Standard director retainer |
| Committee chair fees – Audit | $35,000 | If assigned as chair |
| Committee chair fees – Compensation | $20,000 | If assigned as chair |
| Committee chair fees – Finance; Governance, Safety & Environment | $10,000 | If assigned as chair |
| RSU grant target (director) | $210,000 | Time-vested, not performance-based |
| RSU vesting terms | Vests at 1-year from grant or next AGM | Subject to continued service; no performance conditions |
| Ownership guideline | 5x annual cash retainer | Must be met within initial five years |
Performance Compensation
| Metric | Applies to Directors? | Basis/Citation |
|---|---|---|
| Any performance-based equity (PSU) for directors | No | RSUs for directors are time-based; vesting not subject to performance measures |
| Dividends on unvested awards | No | LTIP prohibits dividends/dividend equivalents on unvested full-value awards |
Other Directorships & Interlocks
- Current public company boards: None (matrix shows 0) .
- Prior public company boards: Parker-Hannifin (2021–2023) .
- Potential interlocks/conflicts: Lacey is CFO of Woodward, Inc.; proxy does not disclose related-party transactions between Transocean and entities associated with Lacey. No related-party items involving Lacey are disclosed in 2025 proxy sections reviewed .
Expertise & Qualifications
- Skills matrix flags strengths in Accounting & Auditing, Finance/Debt/Capital Markets, Multinational Company leadership, Human Capital, M&A, Public Company Governance, Technology/R&D .
Equity Ownership
| Date/Status | Security | Quantity | Ownership/Guideline | Notes |
|---|---|---|---|---|
| As of March 6, 2025 (pre-election) | Shares/Units | 0 | New director; guideline 5x cash retainer over 5 years | Beneficial ownership table shows no holdings for Lacey |
| May 30, 2025 (post-election) | Restricted Units (RSUs) | 82,353 | Post-grant position 82,353 RSUs | Form 4 award grant; filing date June 2, 2025 |
- Hedging/pledging: Company policy prohibits directors from hedging or pledging company shares; all directors must annually certify compliance .
Director Compensation (2024 Reference)
| Name | Cash Fees (USD) | Stock Awards (USD) | Total (USD) |
|---|---|---|---|
| Non-employee directors (typical) | See amounts above | ~$217,954 RSU grant | Totals aligned with structure; illustrative peers shown in table |
Governance Assessment
- Independence and skills: Clear independent status with deep CFO/CEO operational experience across energy/aerospace/industrial segments; strong finance and audit capabilities support audit/finance oversight .
- Committee fit: Finance or Audit Committee likely fit given background; assignments will be made post-election .
- Attendance: Positive board culture—100% attendance by current directors in 2024; expectation of engagement for 2025+ .
- Compensation/Alignment: Director pay mix is cash + time-based RSUs; ownership guideline (5x retainer) and no hedging/pledging enhance alignment; absence of performance-linked director equity is standard practice but reduces immediate pay-for-performance linkage; settlement of vested units typically deferred until end of service .
- Conflicts/Related-party exposure: No related-party transactions disclosed regarding Lacey; current external role as Woodward CFO does not present disclosed transactions with Transocean in proxy; monitor any future commercial ties for potential conflicts .
- Shareholder sentiment: Swiss binding cap for Board compensation maintained at $4.121M for 2025/2026 term; governance program emphasizes shareholder engagement and strong oversight .
Key AGM/Election Signals
- Election item 6H nominates Lacey; Board size temporarily increased to 12 to manage succession/transition; leadership transitions designed to maintain continuity (Executive Chair and Lead Independent Director roles) .
Insider Trades Summary (Post-election)
| Filing Date | Transaction Date | Type | Security | Quantity | Post-Transaction Ownership | Source |
|---|---|---|---|---|---|---|
| 2025-06-02 | 2025-05-30 | Form 4 – Award (A) | Restricted Units | 82,353 | 82,353 | |
| 2025-06-02 | 2025-05-30 | Form 3 (initial) | — | — | — |
Notes:
- Committee nominations for the Compensation Committee at the 2025 AGM did not include Lacey; nominees were Barker, Chang, and Curado .
- Board and committee roles will be assigned after election; RSU grants to directors are customary and time-based .
References:
- Director nominee biography, age, education, prior roles .
- Independence, nominee status, committee assignment TBD, matrix .
- AGM agenda and election specifics .
- Director compensation structure, RSU vesting, ownership guidelines, anti-hedging/pledging .
- Beneficial ownership table (as of March 6, 2025) .
- Attendance, executive sessions, governance changes .
- Insider filings URLs (Form 3, Form 4 awards) as listed above.