Paal Kibsgaard
{{Short description|Norwegian petroleum engineer and businessman}}
{{Use dmy dates|date=April 2017}}
{{Infobox person
| name = Paal Kibsgaard
| image =
| alt =
| caption =
| birth_name =
| birth_date = {{birth year and age|1967|04}}
| birth_place = Ålesund, Norway
| education = Norwegian Institute of Technology
| occupation = Businessman
| title = CEO, Katerra
| predecessor = Andrew Gould
| successor = Olivier Le Peuch
| known_for = former Chairman and CEO, Schlumberger
| networth =
| spouse = Fadila Kibsgaard
| children = 2
| parents =
| relatives =
| website =
}}
Paal Kibsgaard (born April 1967) is a Norwegian petroleum engineer and businessman; the former chairman and CEO of Schlumberger, the world's largest oilfield services company.
Early life
Education
He qualified as a petroleum engineer with a master's degree from the Norwegian Institute of Technology in 1991.{{cite web|title=Paal Kibsgaard, Chairman and Chief Executive Officer Schlumberger Limited|url=http://www.slb.com/about/execmanagement/pkibsgaard.aspx|website=Schlumberger|accessdate=18 May 2015|archive-url=https://web.archive.org/web/20121119020045/http://www.slb.com/about/execmanagement/pkibsgaard.aspx|archive-date=19 November 2012|url-status=dead}}{{cite web|title=TWA Interview|url=http://www.spe.org/twa/print/archives/2012/2012v8n1/07_TWA_v8n1_Kibsgaard.pdf|website=SPE|accessdate=18 May 2015|archive-url=https://web.archive.org/web/20150924104423/http://www.spe.org/twa/print/archives/2012/2012v8n1/07_TWA_v8n1_Kibsgaard.pdf|archive-date=24 September 2015|url-status=dead}}
Career
Kibsgaard started his career with ExxonMobil in 1992, and joined Schlumberger in 1997. He became its CEO in August 2011,{{cite web|title=Executive Profile: Paal Kibsgaard|url=https://www.bloomberg.com/research/stocks/people/person.asp?personId=8218592&ticker=SLB|website=Bloomberg|accessdate=18 May 2015}} succeeding Andrew Gould, who retired as chairman and CEO.{{cite news|title=Schlumberger Announces Management Succession Paal Kibsgaard to become CEO|url=http://rogtecmagazine.com/schlumberger-announces-management-succession-paal-kibsgaard-to-become-ceo/|accessdate=19 May 2015|work=Rogtec|date=21 July 2011}} He was replaced by Olivier Le Peuch in August 2019.{{Cite web|url=https://www.slb.com/who-we-are/executive-management/olivier-le-peuch|title = Olivier le Peuch}} Under his leadership, the company laid off approximately 70,000 employees in less than three years.{{cite web|title=Schluñberger rebounding after cutting 70,000 jobs.|url=https://www.chron.com/business/energy/article/Schlumberger-rebounding-after-cutting-70-000-jobs-12731802.php|date=6 March 2018}} He continued to receive $2 million annual salary from the company for unspecified services and for agreeing not to work for a rival company.{{Cite web |date=2019-07-19 |title=Outgoing Schlumberger CEO Kibsgaard lands $6 million consulting deal |url=https://www.worldoil.com/news/2019/7/19/outgoing-schlumberger-ceo-kibsgaard-lands-6-million-consulting-deal |access-date=2022-06-07 |website=www.worldoil.com}}
In 2017, Kibsgaard received $20.8 million in reported pay, which was a 12 percent increase from the previous year.{{cite web|title=Schlumberger Ltd. Chief Executive Officer Paal Kibsgaard received $20.8 million in reported pay for 2017|website=Bloomberg News|url=https://www.bloomberg.com/news/articles/2018-03-02/schlumberger-ceo-gets-20-8-million-pay-as-oil-markets-rebound|date=2 March 2018}}
Kibsgaard retired from Schlumberger in August 2019, and was succeeded as CEO by Olivier Le Peuch, and as chairman by Mark G. Papa.{{Cite web|url=https://www.chron.com/business/energy/article/Schlumberger-appoints-Olivier-Le-Peuch-as-14107772.php|title=Schlumberger appoints Olivier Le Peuch as company's new CEO - HoustonChronicle.com|date=19 July 2019|website=www.chron.com}}
In 2019, Kibsgaard was hired by Katerra as its COO.{{Cite web|url=https://www.wsj.com/articles/construction-startup-katerra-attracts-former-oil-industry-ceo-11565096402|title=Construction Startup Katerra Attracts Former Oil-Industry CEO - wsj.com|date=6 August 2019|website=www.wsj.com}} He had been serving the company as a board of director since 2016.{{Cite web |date=May 27, 2020 |title=Katerra Appoints Paal Kibsgaard as New CEO |url=https://www.architectmagazine.com/technology/katerra-appoints-paal-kibsgaard-as-new-ceo_o |access-date=2022-06-07 |website=www.architectmagazine.com}} In June 2020, He became the CEO, succeeding Michael Marks.{{cite news |title=Construction Startup Katerra Lays off 400+ Employees Paal Kibsgaard stepped in as CEO last month |url=https://www.propmodo.com/construction-startup-katerra-lays-off-400-employees/ |accessdate=12 August 2020 |work=propmodo |date=1 July 2020}} It was reported that his appointment came with several hundred million in new financing, which Katerra secured from SoftBank Vision Fund.
Personal life
In 2004, he married Fadila Kibsgaard, who is a medical doctor from Algeria.{{Cite web |last=admin |date=2019-05-21 |title=The Soirée Saga |url=https://lcahouston.com/2019/05/the-soiree-saga/ |access-date=2024-11-01 |website=LCAHouston |language=en-US}} They had twin girls in 2008.
References
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Category:Norwegian chief executives
Category:Norwegian chairpersons of corporations
Category:Norwegian Institute of Technology alumni