Odfjell Drilling Management

Management criteria checks 2/4

Odfjell Drilling's CEO is Kjetil Gjersdal, appointed in Mar 2022, has a tenure of 2.67 years. total yearly compensation is $840.00K, comprised of 52.7% salary and 47.3% bonuses, including company stock and options. directly owns 0.018% of the company’s shares, worth €186.20K. The average tenure of the management team and the board of directors is 2.7 years and 2.8 years respectively.

Key information

Kjetil Gjersdal

Chief executive officer

US$840.0k

Total compensation

CEO salary percentage	52.7%
CEO tenure	2.7yrs
CEO ownership	0.02%
Management average tenure	2.7yrs
Board average tenure	2.8yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Kjetil Gjersdal's remuneration changed compared to Odfjell Drilling's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	US$74m
Jun 30 2024	n/a	n/a	US$239m
Mar 31 2024	n/a	n/a	US$234m
Dec 31 2023	US$840k	US$443k	US$222m
Sep 30 2023	n/a	n/a	US$225m
Jun 30 2023	n/a	n/a	US$50m
Mar 31 2023	n/a	n/a	US$58m
Dec 31 2022	US$700k	US$308k	US$75m

Compensation vs Market: Kjetil's total compensation ($USD840.00K) is below average for companies of similar size in the German market ($USD1.46M).

Compensation vs Earnings: Kjetil's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

CEO

Kjetil Gjersdal (54 yo)

2.7yrs

Tenure

US$840,000

Compensation

Mr. Kjetil Gjersdal is the Chief Executive Officer of Odfjell Drilling Ltd. since March 2022. He was an Executive Vice President of Mobile Drilling Units at Odfjell Drilling Ltd.since June 11, 2016. Mr. G...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Kjetil Gjersdal	Chief Executive Officer	2.7yrs	US$840.00k	0.018% € 186.2k
Frode Syslak	Chief Financial Officer	2.7yrs	US$411.00k	0.010% € 109.7k
Jakob Korsgaard	Chief Operating Officer	1.8yrs	no data	no data
Hakon Klepsvik	Chief Technology Officer	2.7yrs	no data	no data
James Crothers	Investor Relations Officer	no data	no data	no data
Cecilie Gjelsvik	General Counsel	7.8yrs	no data	no data
Helge Maubach	Senior Vice President of Human Resources	1.3yrs	no data	no data
Janike Myre	Senior Vice President of QHSE	no data	no data	no data
Michael Nielsen	Executive VP of Business Development & Chief Commercial Officer	8.4yrs	no data	no data
Karoline Flate	VP & Head of Sustainability	no data	no data	no data
Gillian Basson	Corporate Secretary	no data	no data	no data

2.7yrs

Average Tenure

52.5yo

Average Age

Experienced Management: OD3's management team is considered experienced (2.7 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Simen Lieungh	Independent Non-Executive Chairman of the Board	2.7yrs	US$71.00k	0.0083% € 87.7k
Helene Odfjell	Non-Executive Director	11.2yrs	US$40.00k	no data
Harald Thorstein	Independent Non-Executive Director	2.8yrs	US$45.00k	no data
Knut Hatleskog	Independent Non-Executive Director	1.6yrs	US$26.00k	no data

2.8yrs

Average Tenure

57yo

Average Age

Experienced Board: OD3's board of directors are not considered experienced ( 2.8 years average tenure), which suggests a new board.

Odfjell Drilling Management

Management criteria checks 2/4

Key information

Recent management updates

Odfjell Drilling Ltd., Annual General Meeting, Jun 24, 2024

No independent directors

Odfjell Drilling Ltd. Announces Resignation of Thomas Marsoner as Director

Less than half of directors are independent

Insufficient new directors

CEO & President recently sold €843k worth of stock

Recent updates

Third quarter dividend of US$0.06 announced

Third quarter 2024 earnings released: EPS: US$0.08 (vs US$0.78 in 3Q 2023)

Second quarter dividend of US$0.06 announced

Second quarter 2024 earnings released: EPS: US$0.07 (vs US$0.05 in 2Q 2023)

Odfjell Drilling Ltd. Declares Cash Dividend for the Second Quarter 2024, Payable on 19 September 2024

Upcoming dividend of US$0.06 per share

Odfjell Drilling Ltd. Announces Cash Dividend for the First Quarter 2024, Payable on 13 June 2024

New major risk - Financial position

Full year 2023 earnings released: EPS: US$0.94 (vs US$0.32 in FY 2022)

Full year 2023 earnings released: EPS: US$0.94 (vs US$0.32 in FY 2022)

Odfjell Drilling Ltd., Annual General Meeting, Jun 24, 2024

Investor sentiment improves as stock rises 27%

Odfjell Drilling Ltd. to Report Fiscal Year 2023 Results on Apr 19, 2024

New major risk - Revenue and earnings growth

Third quarter 2023 earnings released: EPS: US$0.78 (vs US$0.039 in 3Q 2022)

Odfjell Drilling Ltd. Announces Cash Dividend, Payable on 13 September 2023

Second quarter 2023 earnings released: EPS: US$0.05 (vs US$0.083 in 2Q 2022)

Investor sentiment improves as stock rises 16%

Investor sentiment improves as stock rises 17%

Full year 2022 earnings released: EPS: US$0.32 (vs US$0.22 in FY 2021)

Full year 2022 earnings released: EPS: US$0.32 (vs US$0.28 in FY 2021)

Odfjell Drilling Ltd. to Report Q4, 2022 Results on Feb 16, 2023

Third quarter 2022 earnings released: EPS: US$0.04 (vs US$0.12 in 3Q 2021)

No independent directors

Odfjell Drilling Ltd. Announces Resignation of Thomas Marsoner as Director

Investor sentiment deteriorated over the past week

Second quarter 2022 earnings released

Investor sentiment improved over the past week

Less than half of directors are independent

Investor sentiment deteriorated over the past week

First quarter 2022 earnings released: EPS: US$0.083 (vs US$0.055 loss in 1Q 2021)

Full year 2021 earnings released: EPS: US$0.28 (vs US$0.57 in FY 2020)

Investor sentiment improved over the past week

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Insufficient new directors

Third quarter 2021 earnings: EPS in line with analyst expectations despite revenue beat

Investor sentiment improved over the past week

CFO & Executive VP Atle Sæbø has left the company

Second quarter 2021 earnings released: EPS US$0.11 (vs US$0.035 loss in 2Q 2020)

Investor sentiment deteriorated over the past week

CEO & President recently sold €843k worth of stock

First quarter 2021 earnings released: US$0.055 loss per share (vs US$0.088 profit in 1Q 2020)

Full year 2020 earnings released: EPS US$0.57 (vs US$0.14 in FY 2019)

Odfjell Drilling Signs Contract with Lundin Energy Norway

Full year 2020 earnings released: EPS US$0.57 (vs US$0.14 in FY 2019)

Revenue beats expectations

Investor sentiment improved over the past week

New 90-day high: €1.81

Investor sentiment deteriorated over the past week

New 90-day high: €1.79

Investor sentiment improved over the past week

New 90-day high: €1.63

New 90-day high: €1.49

Odfjell Drilling Ltd. to Report Q1, 2021 Results on May 27, 2021

Third quarter 2020 earnings released: EPS US$0.07

Revenue beats expectations

Market bids up stock over the past week

Market bids up stock over the past week

New 90-day low: €0.83

New 90-day high: €1.12

Odfjell Drilling Enters Letter of Intent for Breidablikk Development with Deepsea Aberdeen

Odfjell Drilling Ltd. to Report Q2, 2020 Results on Aug 27, 2020

New 90-day low - €0.89

Odfjell Drilling Ltd. (OB:ODL) agreed to acquire an unknown stakes in Oceanwind AS

Earnings released

CEO Compensation Analysis

CEO

Tenure

Compensation