Big Payoff for Nabors CEO

摘要

Onshore drilling contractor Nabors In- dustries said long-serving Chief Executive Eugene Isenberg is standing down from that role but will remain chairman of the board. He is entitled to a $100 million payment on leaving the CEO position. Isenberg took the helm at Nabors in 1987 when it was a small Alaska-focused driller and helped turn it into the world's largest onshore drilling contractor. Through the years the compensation packages he negotiated — entitling him to as much as 10% of company cash flows as a performance bonus — have made him among the oil and gas indus- try's most lavishly paid executives.