Frontline Management

Management criteria checks 2/4

We currently do not have sufficient information about the CEO.

Key information

Lars Barstad

Chief executive officer

US$2.1m

Total compensation

CEO salary percentage	19.4%
CEO tenure	3.9yrs
CEO ownership	n/a
Management average tenure	3.9yrs
Board average tenure	4.2yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Lars Barstad's remuneration changed compared to Frontline's earnings?
Date	Total Compensation	Salary	Company Earnings
Jun 30 2024	n/a	n/a	US$595m
Mar 31 2024	n/a	n/a	US$638m
Dec 31 2023	US$2m	US$404k	US$656m
Sep 30 2023	n/a	n/a	US$777m
Jun 30 2023	n/a	n/a	US$826m
Mar 31 2023	n/a	n/a	US$646m
Dec 31 2022	US$1m	US$376k	US$476m

Compensation vs Market: Lars's total compensation ($USD2.08M) is above average for companies of similar size in the Norwegian market ($USD1.10M).

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

CEO

Lars Barstad (53 yo)

3.9yrs

Tenure

US$2,083,000

Compensation

Mr. Lars H. Barstad serves as Interim Chief Executive Officer at Frontline Management AS at Frontline plc since October 2020 and served as Commercial Director since 2015. Mr. Barstad has experience in the...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Lars Barstad	Chief Executive Officer of Frontline Management AS	3.9yrs	US$2.08m	no data
Inger Klemp	Chief Financial Officer of Frontline Management AS	12.7yrs	no data	0.13% $ 72.0m
Marios Saveriades	Secretary	1.8yrs	no data	no data

3.9yrs

Average Tenure

Experienced Management: FRO's management team is considered experienced (3.9 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
John Fredriksen	Director	26.8yrs	US$391.00k	35.64% $ 19.1b
Ola Lorentzon	Independent Chairman	9.3yrs	US$812.00k	0.039% $ 20.7m
James O'Shaughnessy	Independent Director	6yrs	US$401.00k	no data
Cato Stonex	Independent Director	less than a year	US$3.00k	no data
Steen Jakobsen	Independent Director	2.3yrs	US$60.00k	no data
Ole Hjertaker	Director	2.3yrs	US$60.00k	no data

4.2yrs

Average Tenure

60.5yo

Average Age

Experienced Board: FRO's board of directors are considered experienced (4.2 years average tenure).

Frontline Management

Management criteria checks 2/4

Key information

Recent management updates

Frontline plc Announces the Resignation of Marios Demetriades as Director

Frontline plc Elects Cato Stonex as A Director

Frontline plc, Annual General Meeting, Sep 29, 2023

Frontline Ltd. Announces Executive Changes

Less than half of directors are independent

Frontline Ltd. Appoints Marios Demetriades as A Director

Recent updates

Frontline plc Announces the Resignation of Marios Demetriades as Director

Second quarter dividend of US$0.62 announced

Second quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind

First quarter 2024 earnings: EPS and revenues miss analyst expectations

Now 21% undervalued

Fourth quarter dividend of US$0.62 announced

Now 20% undervalued

Full year 2023 earnings: EPS and revenues miss analyst expectations

Fourth quarter dividend of US$0.37 announced

New major risk - Earnings quality

Full year 2023 earnings: EPS and revenues miss analyst expectations

Frontline plc Announces Dividend for the Fourth Quarter of 2023, Payable on or About 27 March, 2024

Frontline plc Elects Cato Stonex as A Director

Upcoming dividend of US$0.30 per share at 6.4% yield

Third quarter 2023 earnings: EPS in line with expectations, revenues disappoint

Frontline plc Announces Dividend for the Third Quarter, 2023, Payable on or About 29 December, 2023

CMB NV completed the acquisition of additional 26.124% stake in Euronav NV (ENXTBR:EURN) from Famatown Finance Limited and Frontline plc (NYSE:FRO).

CMB NV completed the acquisition of additional 26.124% stake in Euronav NV (ENXTBR:EURN) from Famatown Finance Limited and Frontline plc (NYSE:FRO).

Investor sentiment improves as stock rises 16%

CMB NV entered into an agreement to acquire additional 26.124% stake in Euronav NV (ENXTBR:EURN) from Famatown Finance Limited and Frontline plc (NYSE:FRO) for $1 billion.

Euronav's Shareholder CMB Offers to Acquire Frontline’s 26.12% Stake

Second quarter 2023 earnings: EPS and revenues exceed analyst expectations

Frontline plc Announces Dividend for the Second Quarter of 2023, Payable on or About September 29, 2023

Now 22% undervalued after recent price drop

Frontline plc(NYSE:FRO) dropped from Russell 2000 Dynamic Index

Upcoming dividend of US$0.70 per share at 8.7% yield

Frontline plc Declares Cash Dividend for the First Quarter of 2023, Payment Date Is on or About 30 June, 2023

First quarter 2023 earnings released: EPS: US$0.90 (vs US$0.15 in 1Q 2022)

Frontline plc Declares Cash Dividend for the First Quarter of 2023

Now 21% undervalued after recent price drop

Now 21% undervalued

Full year 2022 earnings: EPS in line with expectations, revenues disappoint

Upcoming dividend of US$1.07 per share at 6.7% yield

Full year 2022 earnings: EPS in line with expectations, revenues disappoint

Investor sentiment improves as stock rises 17%

Frontline plc Announces Emergency Arbitration Claims Filed by Euronav Have Been Fully Dismissed by the Emergency Arbitrator

Frontline plc Confirms to Terminate the Combination Agreement with Euronav NV

Investor sentiment improved over the past week

Frontline plc, Annual General Meeting, Sep 29, 2023

Frontline plc to Report Q3, 2023 Results on Nov 30, 2023

Frontline Ltd. Announces Executive Changes

Third quarter 2022 earnings released: EPS: US$0.69 (vs US$0.17 loss in 3Q 2021)

Less than half of directors are independent

Investor sentiment improved over the past week

Frontline Ltd. Appoints Marios Demetriades as A Director

Upcoming dividend of US$0.15 per share

Frontline Ltd. (NYSE:FRO) agreed to acquire a 3.82% stake in Euronav NV (ENXTBR:EURN) for approximately €130 million.

Frontline Ltd. Declares Cash Dividend for the Second Quarter of 2022, Payable on or About October 3, 2022

Second quarter 2022 earnings: EPS and revenues miss analyst expectations

First quarter 2022 earnings: Revenues miss analyst expectations

Less than half of directors are independent

Frontline Ltd. Announces Executive Changes

Frontline Ltd. (NYSE:FRO) signed a term sheet to acquire Euronav NV (ENXTBR:EURN) from CMB NV, C.K. LIMITED and others for €2.5 billion.

Frontline Ltd. (NYSE:FRO) signed a term sheet to acquire Euronav NV (ENXTBR:EURN) for €2.5 billion.

Full year 2021 earnings: EPS and revenues miss analyst expectations

Frontline Ltd. Appoints Jens Martin Jensen as Director

Less than half of directors are independent

Full year 2021 earnings: EPS and revenues miss analyst expectations

Third quarter 2021 earnings: EPS in line with expectations, revenues disappoint

Investor sentiment improved over the past week

Second quarter 2021 earnings released: US$0.13 loss per share (vs US$1.01 profit in 2Q 2020)

First quarter 2021 earnings released: EPS US$0.15 (vs US$0.87 in 1Q 2020)

Full year 2020 earnings released: EPS US$2.11 (vs US$0.81 in FY 2019)

New 90-day high: kr66.50

Revenue and earnings miss expectations

The Board of Frontline Ltd. Decides Not to Pay Dividend for the Fourth Quarter of 2020

Frontline Ltd., Annual General Meeting, Sep 17, 2021

New 90-day low: kr51.30

Frontline Ltd. Does Not Declare Dividend for the Third Quarter of 2020