Douglas Wall
About Douglas J. Wall
Douglas J. Wall is an independent director of Select Water Solutions (WTTR), currently serving as Chair of the Nominating, Governance & Sustainability (NG&S) Committee and as a member of the Compensation Committee . Age 72 and a director since November 2016 (previous board service at SES Holdings 2012–2014), Wall is the former President & CEO of Patterson‑UTI Energy and held senior leadership roles at Baker Hughes; he holds a B.A. in Economics (University of Calgary) and an MBA in Finance/Marketing (University of Alberta) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Patterson‑UTI Energy, Inc. | President & CEO; previously COO | CEO Oct 2007–Sep 2012; COO Apr 2007 | Led large U.S. OFS operator |
| Baker Hughes, Inc. (incl. subsidiaries) | Group President, Completions & Production; President Baker Oil Tools; President Hughes Christensen | Group President (most recent before 2007); BOT President 2003–2005; Hughes Christensen President 1997–2003 | Ran global completions/production businesses |
| Western Rock Bit Company Ltd. (Hughes Tool distributor) | President & CEO | 1991–1997 | Led Canadian drilling products distribution |
| ATCO/Thomson Drilling; Adeco Drilling & Engineering (Parker affiliate) | Various senior roles | Began 1978; ~10 years at Adeco | Early drilling industry experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Fugro N.V. | Director | 2014–May 2021 | Dutch geotechnical/survey/subsea/seismic company |
| Seventy‑Seven Energy Inc. | Director | Aug 2016–Apr 2017 | U.S. OFS (drilling, pressure pumping, rentals) |
| Other public company boards (current) | — | — | None disclosed |
Board Governance
- Committee assignments: NG&S Chair; Compensation Committee member .
- Independence: Board determined Wall is independent under NYSE standards .
- Attendance: In 2024, Board met 7x; Audit 4x; Compensation 4x; NG&S 3x; each director attended ≥75% of applicable meetings; all directors attended the 2024 Annual Meeting .
- Lead Independent Director structure: Board led by CEO/Chair with Lead Independent Director (Burnett); independent director executive sessions held regularly .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual cash retainer (non‑employee director) | $70,000 | Program terms for 2024 |
| Committee chair retainers | Audit $20,000; Compensation $15,000; NG&S $10,000 | Program terms |
| Lead Director retainer | $20,000 | Program terms |
| Chairman of the Board supplemental retainer | $100,000 | Program terms (CEO not paid for board service) |
| Douglas J. Wall – Fees earned in cash (2024) | $85,777 | Reflects NG&S chair fee within total director cash |
Performance Compensation
| Equity Award (Director Program) | Grant Date | Shares | Fair Value | Vesting |
|---|---|---|---|---|
| Annual restricted shares (all non‑employee directors) | May 7, 2024 | 16,447 | $151,477 (per director) | One‑year cliff, vests May 7, 2025 |
| Valuation basis (closing price) | May 7, 2024 | — | $9.21/sh | FASB ASC 718 |
Director equity is time‑based only; no director performance criteria (TSR/ROA) apply to board grants .
Other Directorships & Interlocks
| Topic | Detail |
|---|---|
| Current other public boards | None for Wall |
| Committee interlocks | WTTR discloses that CEO Schmitz sits on Silver Creek Exploration III, LLC’s board where WTTR Lead Director Burnett is CEO; no interlock disclosed involving Wall . |
Expertise & Qualifications
- Public company CEO experience and deep OFS operating background (Patterson‑UTI; Baker Hughes) .
- Strategic, operations, and human capital leadership; prior global business unit P&L oversight .
- Governance experience from prior external boards (Fugro; Seventy‑Seven Energy) .
- Education: B.A. Economics; MBA Finance/Marketing .
Equity Ownership
| Metric | Value |
|---|---|
| Beneficial ownership (Class A shares) | 110,636 |
| Ownership as % of Class A outstanding | ~0.11% (110,636 / 103,611,339) |
| Options included in beneficial ownership | 5,334 shares via options |
| Unvested restricted shares at 12/31/2024 | 16,447 |
| Director stock ownership guideline | 5x annual base retainer |
| Guideline compliance status | All directors have satisfied or are on track within 5 years |
| Hedging/pledging policy | Hedging prohibited; pledging requires Audit Committee pre‑approval |
Governance Assessment
- Effectiveness: As NG&S Chair and Compensation Committee member, Wall is positioned to influence board composition, succession planning, and pay governance—his prior CEO/OFS experience supports robust oversight of human capital and strategic risk .
- Independence and attendance: Independent with acceptable attendance; no disclosed related‑party transactions involving Wall, which supports investor confidence .
- Alignment: Director pay is balanced (cash + one‑year RS) with clear ownership requirements (5x retainer); Wall’s disclosed holdings and unvested RS indicate skin‑in‑the‑game without performance grants that could misalign near‑term behaviors .
- Conflicts/RED FLAGS: No Wall‑specific related‑party transactions; company discloses multiple related‑party dealings with the CEO and an EVP—while governed under policy/Audit oversight, these are not tied to Wall but represent broader governance risk to monitor. No tax gross‑ups, hedging prohibitions in place; no pledging disclosed by Wall .
- Signals: Compensation Committee interlock noted for Schmitz/Burnett at Silver Creek; none for Wall. Annual say‑on‑pay support near 98% in 2024 signals broader investor acceptance of pay practices, indirectly reflecting Compensation Committee oversight where Wall serves .
No individual attendance shortfalls, related‑party transactions, or pledging by Wall are disclosed; ongoing monitoring should focus on committee decisions, succession oversight, and any future interlocks or transactions that could evolve.