Paal Kibsgaard (born April 1967) is a Norwegian petroleum engineer and businessman; the former chairman and CEO of

Schlumberger Schlumberger Limited (), doing business as SLB, is an oilfield services company. Schlumberger has four principal executive offices located in Paris, Houston, London, and The Hague. Schlumberger is the world's largest offshore drilling compa ...

, the world's largest

oilfield services This is a list of oilfield service companies – notable companies that provide services to the petroleum exploration and production industry but do not typically produce petroleum. In the list, notable subsidiary companies and divisions are listed ...

company.

Early life

He was born in

Ålesund Ålesund () sometimes spelled Aalesund in English, is a municipality in Møre og Romsdal County, Norway. It is part of the traditional district of Sunnmøre and the centre of the Ålesund Region. The town of Ålesund is the administrative ...

, Norway in April 1967.

Education

He qualified as a petroleum engineer with a master's degree from the

Norwegian Institute of Technology The Norwegian Institute of Technology (Norwegian: ''Norges tekniske høgskole'', NTH) was a science institute in Trondheim, Norway. It was established in 1910, and existed as an independent technical university for 58 years, after which it was m ...

in 1991.

Career

Kibsgaard started his career with

ExxonMobil ExxonMobil Corporation (commonly shortened to Exxon) is an American multinational oil and gas corporation headquartered in Irving, Texas. It is the largest direct descendant of John D. Rockefeller's Standard Oil, and was formed on November 30, ...

in 1992, and joined Schlumberger in 1997. He became its CEO in August 2011, succeeding Andrew Gould, who retired as chairman and CEO. He was replaced by

Olivier Le Peuch Olivier Le Peuch (born 1963/1964) is a French businessman, and the chief executive officer (CEO) of Schlumberger, the world's largest oilfield services company, effective 1 August 2019. Biography Le Peuch was born and raised in France. He earned ...

in August 2019. Under his leadership, the company laid off approximately 70,000 employees in less than three years. He continued to receive $2 million annual salary from the company for unspecified services and for agreeing not to work for a rival company. In 2017, Kibsgaard received $20.8 million in reported pay, which was a 12 percent increase from the previous year. Kibsgaard retired from Schlumberger in August 2019, and was succeeded as CEO by

, and as chairman by

Mark G. Papa Mark G. Papa (born 1946/1947) is an American businessman. He is the founder and former chairman and CEO of EOG Resources. On August 1, 2019, he became non-executive chairman of Schlumberger. Biography Early life Papa graduated from the Universit ...

. In 2019, Kibsgaard was hired by

Katerra Katerra was an American technology-driven off-site construction company. It was founded in 2015 by Michael Marks, former CEO of Flextronics and former Tesla interim CEO, along with Fritz Wolff, the executive chairman of The Wolff Co. Katerra was ...

as its COO. He had been serving the company as a board of director since 2016. In June 2020, He became the CEO, succeeding Michael Marks. It was reported that his appointment came with several hundred million in new financing, which Katerra secured from

SoftBank Vision Fund The SoftBank Vision Fund is a venture capital fund founded in 2017 that is part of the SoftBank Group. With over $100 billion in capital, it is the world's largest technology-focused investment fund. In 2019, SoftBank Vision Fund 2 was founded. T ...

Personal life

He is married, with children.

References

{{DEFAULTSORT:Kibsgaard, Paal 1967 births Living people Norwegian chief executives Norwegian chairpersons of corporations Norwegian Institute of Technology alumni Norwegian businesspeople in the oil industry People from Ålesund Norwegian engineers Schlumberger people