Nabors passes sweeping corporate governance changes, including proxy access

Nabors shareholders that have held at least 5 percent of the company for three consecutive years will be eligible to nominate directors

 One of the major rallying cries for activist shareholders in recent days is for a shift in executive compensation to increase shareholder returns. At one major oil company, those cries have come to fruition.

Oilfield services and drilling company Nabors Industries Ltd announced on April 14 that it would institute a number of changes to its board and payment structure. Chief among the changes are the limiting of severance packages to 2.99 times the executive’s yearly salary and bonuses.

Assistant Editor

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Zach Warren

Zach Warren is Assistant Editor of InsideCounsel magazine, where he oversees online content submissions and administers InsideCounsel's enewsletters. Zach specializes in new media and multimedia...

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