Jim Hackett
SLB LIMITED/NVAbout Jim Hackett
Jim Hackett, age 71, is the Independent Chair of SLB’s Board and President of Tessellation Services. He joined SLB’s Board in 2023 (two years of service as of the 2025 proxy) and brings former CEO experience at Anadarko Petroleum, deep energy industry governance, and finance credentials, including prior service as Chair of the Federal Reserve Bank of Dallas. He holds an MBA from Harvard Business School and a Master of Theological Studies from Harvard Divinity School .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Tessellation Services | President | Since 2013 | Founder/operator of a consulting firm |
| Anadarko Petroleum Corporation | Executive Chairman and CEO | 2003–2013 | Led global E&P and midstream company |
| Riverstone Holdings | Partner and Senior Advisor | 2013–Mar 2020 | Private energy investment; strategic advisory |
| Alta Mesa Resources | Executive Chairman | 2018–Mar 2020 | Oversight of onshore E&P company |
| Federal Reserve Bank of Dallas | Former Chair of the Board | Not disclosed | Financial oversight and governance experience |
| National Petroleum Council (US) | Former Chair | Not disclosed | Industry policy and advisory leadership |
| Rice University; The University of Texas at Austin | Faculty member | Since 2017 | Academic engagement; no involvement in SLB charitable gifts |
External Roles
| Organization | Status | Role | Tenure | Committees/Impact |
|---|---|---|---|---|
| Enterprise Products Holdings | Current | Director | Since 2014 | Chair, Governance; Member, Capital Projects |
| Fluor Corporation | Current | Lead Independent Director (since Jan 2025); Director | 2016–2015; 2016–present | Chair, Organization & Compensation; Member, Executive and Commercial Strategies & Operational Risk |
| NuScale Power Corporation | Former | Non‑Executive Chair | Dec 2021–Jan 2025 | Board leadership during formative period |
| NOV Inc. | Former | Director | 2016–Apr 2023 | Energy services board experience |
| Alta Mesa Resources | Former | Executive Chairman | 2018–Mar 2020 | E&P governance |
Board Governance
- Role at SLB: Independent Board Chair; sets agenda and leads all Board meetings and executive sessions of non‑employee directors .
- Committee assignments: None (independent Chair only) .
- Independence: Board determined Hackett is independent; only CEO and Mr. Galuccio are non‑independent .
- Attendance and engagement: 2024 average Board/committee attendance was 98% and no director attended <75%. Independent Chair led executive sessions at each 2024 Board meeting; the Chair also conducts 1‑on‑1 director interviews during evaluations .
- Board structure and process: Annual elections, majority vote standard, fully independent key committees, rigorous annual evaluations, overboarding limits (no nominee serves on >2 other listed boards; Hackett serves on two) .
Fixed Compensation (Director; 2024)
| Component | Detail | Amount/Terms | Source |
|---|---|---|---|
| Annual cash retainer | Non‑employee director | $115,000 | |
| Independent Board Chair cash premium | Additional to retainer | $100,000 | |
| Committee membership fee | Per committee | $10,000 (not applicable to Hackett in 2024) | |
| Committee chair fee | In lieu of membership fee | $20,000 (not applicable to Hackett in 2024) | |
| Equity grant (annual) | Common stock | ~$290,000 value for Board Chair; 6,107 shares granted May 1, 2024 | |
| 2024 actual fees and stock | Jim Hackett | $215,000 fees; $288,006 stock awards; total $503,006 |
Notes: Directors may elect to defer cash/stock under the Directors Stock Plan; deferrals receive stock units or investment alternatives; paid post‑service per election .
Performance Compensation
- Non‑employee directors at SLB do not receive performance‑conditioned annual incentives. Equity grants are in common stock (no PSU/option awards for directors), with optional deferral; no performance metrics are attached to director equity grants .
Other Directorships & Interlocks
| Company | Relationship/Interlock Consideration | Detail |
|---|---|---|
| Enterprise Products Holdings (midstream) | External board | Governance chair; no SLB‑disclosed related‑party transactions in 2024 connected to Hackett . |
| Fluor Corporation (E&C) | External board | Lead independent director and comp chair since Jan 2025; no SLB‑disclosed related‑party transactions connected to Hackett . |
| Academic affiliations (Rice University; UT Austin) | Charitable contributions reviewed for independence | SLB contributions were < $200k/year (Rice) and < $700k/year (UT Austin); Hackett had no involvement; Board concluded independence . |
Expertise & Qualifications
- Energy leadership: Former Executive Chairman and CEO of Anadarko; extensive service across energy services boards (NOV, Halliburton, Cameron International) .
- Governance/finance: Former Chair, Federal Reserve Bank of Dallas; chairs governance/compensation committees at other public companies .
- Strategy and risk oversight: Leads SLB Board’s agenda and executive sessions; participates in robust risk oversight framework .
- Education: MBA, Harvard Business School; Master of Theological Studies, Harvard Divinity School .
Equity Ownership
| Metric | As of | Amount | Notes |
|---|---|---|---|
| Beneficial ownership (Hackett) | Jan 31, 2025 | 12,245 shares; <1% of class | None of the shares are pledged . |
| Beneficial ownership (Hackett) | Jul 31, 2025 | 20,966 shares; <1% of class | None of the shares are pledged . |
| Director ownership guidelines | Policy | 5x annual cash retainer within 5 years of joining Board | Compliance required within 5 years; directors ≥5 years are in compliance . |
| Anti‑hedging/pledging | Policy | Directors prohibited from hedging or pledging SLB stock | Securities transactions policy and anti‑pledge rule . |
| Director deferral plan | Availability | May defer cash/stock into stock units or investment options | Paid after Board service per elections . |
Governance Assessment
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Strengths supporting investor confidence:
- Independent Board Chair with deep energy, governance, and finance expertise; separation of Chair/CEO roles enhances oversight .
- High Board effectiveness indicators: independent key committees, majority vote standard, robust evaluations, proactive shareholder engagement; 2024 attendance 98% with executive sessions every meeting .
- Clear director pay structure with meaningful equity component; no options; alignment via ownership guidelines; anti‑hedging/pledging policy .
- Say‑on‑pay support >97% at 2024 AGM, indicating positive shareholder sentiment toward pay governance .
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Potential risk considerations (mitigated):
- Outside commitments: Hackett serves on two other listed company boards—within SLB’s overboarding limits and consistent with governance highlight that no nominee serves on more than two other listed boards .
- Academic affiliations with institutions receiving SLB contributions: reviewed under enhanced independence factors; amounts disclosed; Hackett had no involvement; Board maintained independence determination .
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Related‑party and conflicts check:
- No related‑party transactions disclosed involving Hackett; Vista transactions relate to another director (Galuccio) and were arms’ length .
Overall, Hackett’s independent chairmanship, committee leadership experience at other large-cap boards, and absence of related‑party conflicts are positive governance signals. His external roles and academic ties have been reviewed within SLB’s independence framework, with mitigating disclosures and policies in place .