TGS Management

Management criteria checks 2/4

TGS' CEO is Kristian Johansen, appointed in Mar 2016, has a tenure of 8.75 years. total yearly compensation is $1.65M, comprised of 45.4% salary and 54.6% bonuses, including company stock and options. directly owns 0.095% of the company’s shares, worth NOK20.72M. The average tenure of the management team and the board of directors is 0.9 years and 1.6 years respectively.

Key information

Kristian Johansen

Chief executive officer

US$1.6m

Total compensation

CEO salary percentage	45.4%
CEO tenure	8.8yrs
CEO ownership	0.09%
Management average tenure	less than a year
Board average tenure	1.6yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Kristian Johansen's remuneration changed compared to TGS's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	US$47m
Jun 30 2024	n/a	n/a	US$26m
Mar 31 2024	n/a	n/a	US$14m
Dec 31 2023	US$2m	US$747k	US$22m
Sep 30 2023	n/a	n/a	US$74m
Jun 30 2023	n/a	n/a	US$55m
Mar 31 2023	n/a	n/a	US$58m
Dec 31 2022	US$2m	US$587k	US$88m
Sep 30 2022	n/a	n/a	-US$32m
Jun 30 2022	n/a	n/a	-US$27m
Mar 31 2022	n/a	n/a	-US$68m
Dec 31 2021	US$1m	US$564k	-US$76m
Sep 30 2021	n/a	n/a	US$12m
Jun 30 2021	n/a	n/a	-US$62m
Mar 31 2021	n/a	n/a	-US$124m
Dec 31 2020	US$2m	US$532k	-US$167m
Sep 30 2020	n/a	n/a	-US$108m
Jun 30 2020	n/a	n/a	US$2m
Mar 31 2020	n/a	n/a	US$79m
Dec 31 2019	US$3m	US$571k	US$113m
Sep 30 2019	n/a	n/a	US$168m
Jun 30 2019	n/a	n/a	US$161m
Mar 31 2019	n/a	n/a	US$186m
Dec 31 2018	US$2m	US$558k	US$179m
Sep 30 2018	n/a	n/a	US$109m
Jun 30 2018	n/a	n/a	US$85m
Mar 31 2018	n/a	n/a	US$71m
Dec 31 2017	US$2m	US$528k	US$76m

Compensation vs Market: Kristian's total compensation ($USD1.65M) is about average for companies of similar size in the UK market ($USD2.29M).

Compensation vs Earnings: Kristian's compensation has been consistent with company performance over the past year.

CEO

Kristian Johansen (53 yo)

8.8yrs

Tenure

US$1,646,000

Compensation

Mr. Kristian Kuvaas Johansen serves as Independent Director at International Seaways, Inc. from June 12, 2024. He serves as Independent Director at Valaris Limited from June 7, 2023. He has been the Chief...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Kristian Johansen	Chief Executive Officer	8.8yrs	US$1.65m	0.095% NOK 21.3m
Sven Larsen	Chief Financial Officer	3.3yrs	US$585.00k	0.030% NOK 6.8m
Tana Pool	Executive VP of Legal & General Counsel	11.9yrs	US$654.00k	0.030% NOK 6.7m
Whitney Eaton	Executive Vice President of Sustainability & Communication	less than a year	US$452.00k	0.0050% NOK 1.1m
David Hajovsky	Executive Vice President of Multi-Client	3.8yrs	US$571.00k	0.012% NOK 2.6m
Carel Hooijkaas	Executive Vice President of New Energy Solutions	less than a year	US$892.00k	0.017% NOK 3.7m
Robert Adams	Executive Vice President of Operations	less than a year	no data	no data
Wadii Karkouri	Executive Vice President of Imaging & Technology	less than a year	no data	no data
Kristin Omreng	Executive Vice President of People & Culture	less than a year	no data	no data
Scott Michell	Senior VP of Imaging	4.9yrs	no data	no data
Nathan Oliver	Executive Vice President of Contract	less than a year	no data	no data
Jaclyn Townsend	Director of Corporate Marketing	no data	no data	no data

0.9yrs

Average Tenure

50.5yo

Average Age

Experienced Management: 0MSJ's management team is not considered experienced ( 0.9 years average tenure), which suggests a new team.

Board Members

Name	Position	Tenure	Compensation	Ownership
Anne Dalane	Independent Director	less than a year	no data	0.0036% NOK 799.8k
Christopher Finlayson	Chairman of the Board	5.6yrs	US$174.00k	0.017% NOK 3.8m
Trond Brandsrud	Independent Director	less than a year	no data	0.0049% NOK 1.1m
Luis Antonio Araujo	Independent Director	1.6yrs	US$41.00k	0.0019% NOK 417.9k
Svein Oygard	Independent Director	3.6yrs	US$58.00k	0.034% NOK 7.7m
Maurice Nessim	Independent Director	1.6yrs	US$41.00k	0.0019% NOK 417.9k
Bettina Bachmann	Independent Director	1.6yrs	US$41.00k	0.0029% NOK 662.8k
Emeliana Rice-Oxley	Independent Director	less than a year	no data	0.0010% NOK 229.2k

1.6yrs

Average Tenure

65yo

Average Age

Experienced Board: 0MSJ's board of directors are not considered experienced ( 1.6 years average tenure), which suggests a new board.

TGS Management

Management criteria checks 2/4

Key information

Recent management updates

TGS ASA, Annual General Meeting, May 08, 2025

High number of new directors

Independent Director recently bought kr3.6m worth of stock

Chief Executive Officer recently bought kr493k worth of stock

Chairman of the Board recently bought kr1.1m worth of stock

Independent Director recently bought kr2.2m worth of stock

Recent updates

TGS ASA announced that it has received $4.217674 million in funding

TGS ASA, Annual General Meeting, May 08, 2025

TGS ASA to Report Q4, 2024 Results on Feb 20, 2025

Third quarter dividend of kr1.53 announced

TGS ASA Resolves to Distribute A Quarterly Dividend in Fourth Quarter 2024, Payable on 14 November 2024

Third quarter 2024 earnings released: EPS: US$0.19 (vs US$0.13 in 3Q 2023)

TGS ASA Announces Birmingham-Gemini 3D Seismic Survey in Appalachian Basin

High number of new directors

Investor sentiment deteriorates as stock falls 15%

TGS ASA Expands Exploration Efforts in Brazil with Launch of Pama 3D Phase 1 Survey

TGS Launches New Seismic Survey in Seram Basin, Indonesia

Second quarter dividend of kr1.51 announced

Second quarter 2024 earnings released: EPS: US$0.27 (vs US$0.18 in 2Q 2023)

TGS ASA Approves to Distribute Third Quarter Dividend of 2024, Payable on 8 August 2024

TGS ASA Provides Revenue Guidance for the Second Quarter 2024

TGS ASA (OB:TGS) completed the acquisition of PGS ASA (OB:PGS).

New major risk - Shareholder dilution

TGS ASA Announces New Multi-Client Onshore 3D Seismic Survey in the Appalachian Basin

First quarter 2024 earnings released: US$0.13 loss per share (vs US$0.07 loss in 1Q 2023)

TGS ASA Approves to Distribute Second Quarter Dividend of 2024, Payable on 3 June 2024

TGS Launches Multi-Client Wind and Metocean Measurement Campaign Offshore Germany

Now 20% undervalued

Now 20% undervalued

Full year 2023 earnings released: EPS: US$0.17 (vs US$0.74 in FY 2022)

TGS ASA Provides Revenue Guidance for the First Quarter of 2024

TGS Announces Commencement of Penyu Basin Multi-Client 3D Seismic Offshore Peninsular Malaysia

New minor risk - Earnings quality

Full year 2023 earnings released: EPS: US$0.18 (vs US$0.74 in FY 2022)

New minor risk - Profit margin trend

TGS ASA Approves to Distribute First Quarter Dividend of 2024, Payable on 7 March 2024

Independent Director recently bought kr3.6m worth of stock

Now 21% undervalued after recent price drop

Chief Executive Officer recently bought kr493k worth of stock

Now 29% undervalued after recent price drop

TGS ASA Provides Revenue Guidance for Fourth Quarter 2023

TGS ASA to Report First Half, 2024 Results on Jul 18, 2024

Chairman of the Board recently bought kr1.1m worth of stock

Now 20% undervalued after recent price drop

Independent Director recently bought kr2.2m worth of stock

Third quarter 2023 earnings released: EPS: US$0.13 (vs US$0.02 loss in 3Q 2022)

TGS ASA Resolves to Distribute A Quarterly Dividend, Payable on 16 November 2023

TGS Enterprise Asset Management Software for Utility-Size Solar Now Available in the U.S

TGS ASA Provides Revenue Guidance for the Third Quarter of 2023

TGS ASA (OB:TGS) agreed the principal terms to acquire PGS ASA (OB:PGS) NOK 9.3 billion.

TGS ASA (OB:TGS) agreed the principal terms to acquire PGS ASA (OB:PGS) NOK 9.3 billion.

PGS, TGS and CGG Introduce New Tiered Offerings for Versal - the World's First MultiClient Data Ecosystem

TGS Asa Resolves to Distribute A Quarterly Dividend, Payable on 10 August 2023

Second quarter 2023 earnings released: EPS: US$0.18 (vs US$0.22 in 2Q 2022)

TGS ASA Provides Revenue Guidance for the Second Quarter of 2023

TGS ASA Provides Revenue Guidance for the Second Quarter of 2023

High number of new directors

Upcoming dividend of kr1.48 per share at 3.7% yield

TGS ASA Announces to Distribute A Quarterly Dividend for Second Quarter of 2023, Payment Date: 5 June 2023

Investor sentiment deteriorates as stock falls 16%

Full year 2022 earnings released: EPS: US$0.74 (vs US$0.65 loss in FY 2021)

Investor sentiment improves as stock rises 16%

Full year 2022 earnings released: EPS: US$0.74 (vs US$0.65 loss in FY 2021)

TGS ASA Announces Quarterly Dividend, Payable on 2 March 2023

TGS ASA Provides Revenue Guidance for the Fourth Quarter of 2022

CGG and TGS Announce Foz do Amazonas Phase II 3D Multi-Client Survey Offshore Brazil

TGS ASA (OB:TGS) completed the acquisition of 21.97% stake in Magseis Fairfield ASA (OB:MSEIS) for NOK8.08 per share.

TGS ASA to Report Q1, 2023 Results on May 11, 2023

TGS ASA Commences 3D Reprocessing Project Offshore Uruguay

Third quarter 2022 earnings released: US$0.02 loss per share (vs US$0.16 profit in 3Q 2021)

TGS ASA to Distribute A Quarterly Dividend, Payment Date: 17 November 2022

TGS Provides Revenue Guidance for the Third Quarter of 2022

TGS ASA (OB:TGS) completed the acquisition of Magseis Fairfield ASA (OB : MSEIS) from Fairfield Ms LLC, members of the Magseis Board and management and others.

TGS ASA to Enhance Data-Driven Solutions for the Global Wind Industry Alongside New, Cost-Effective Subscription Package for Wind Axiom

TGS ASA Announces New 3D Seismic Survey Close to Dorado and Pavo Discoveries in North-West Australia