UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
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Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Election of Director
On December 15, 2024, the Board of Directors (the “Board”) of NOV Inc. (the “Company”) appointed Christian S. Kendall as a director of the Company, with a term of office expiring at the next annual meeting of stockholders. Mr. Kendall will serve on the Board’s Audit Committee. As compensation for his service on the Board, Mr. Kendall will receive the Company’s standard compensation for non-employee directors, which is described under the heading “Director Compensation” in the Company’s definitive proxy statement relating to the Company’s annual meeting of stockholders in 2024, filed with the Securities and Exchange Commission on April 4, 2024, as such compensation may be updated from time to time. In addition, there are no transactions in which Mr. Kendall has an interest that would require disclosure under Item 404(a) of Regulation S-K.
Mr. Kendall, age 58, currently serves as a director of California Resources Corporation, chair of its Nominating & Corporate Governance Committee, and member of its Audit Committee. He also serves as a director of Carbon TerraVault, a subsidiary of California Resources Corporation.
Mr. Kendall has more than 30 years of experience in the global oil and gas industry, including as a director, President, and Chief Executive Officer of Denbury Inc. prior to its acquisition by Exxon Mobil Corporation in November 2023. Mr. Kendall received a Bachelor of Science in Engineering, Civil Specialty from the Colorado School of Mines and graduated from Harvard Business School’s Advanced Management Program.
With the appointment of Mr. Kendall, the Board is now composed of eleven directors, ten of whom are independent members.
On December 16, 2024, the Company announced the appointment of Mr. Kendall to the Board. A copy of the press release is attached as Exhibit 99.1 to this report.
Item 9.01 | Financial Statements and Exhibits |
(d) | Exhibits |
The following exhibit is provided as part of the information furnished under Item 5.02 of this Current Report:
99.1 | NOV Inc. press release dated December 16, 2024 announcing the appointment of Christian S. Kendall. | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: December 16, 2024 | NOV INC. | |||||
/s/ Peter F. Vranderic | ||||||
Peter F. Vranderic | ||||||
Vice President |
Exhibit 99.1
NEWS | Contact: Amie DAmbrosio (713) 375-3826 | |
FOR IMMEDIATE RELEASE | ||
NOV Appoints Chris Kendall to the Board of Directors |
HOUSTON, TX, December 16, 2024 NOV Inc. (NYSE: NOV) announced today that Chris Kendall has been appointed to the Companys Board of Directors, effective December 15, 2024.
We are pleased to welcome Chris Kendall to our board of directors, said Clay Williams, Chairman, President, and Chief Executive Officer. Chris brings extensive experience in international, offshore, and domestic upstream oilfield operations to NOVs board. He has a strong and proven record of accomplishments and technical expertise that includes carbon capture and enhanced oil recovery. We look forward to leveraging Chris expertise to further advance our strategy and create value for NOVs shareholders.
Mr. Kendall has more than 30 years of experience in the global oil and gas industry, including as a director, President, and Chief Executive Officer of Denbury Inc. prior to its acquisition by Exxon Mobil Corporation in November 2023. Prior to joining Denbury, Mr. Kendall was with Noble Energy, serving as the Senior Vice President, Global Operations Services. During his 14-year tenure at Noble Energy, Mr. Kendall held several international and domestic leadership roles, primarily in the Eastern Mediterranean, Latin America, and the Gulf of Mexico regions.
Mr. Kendall began his energy career at Mobil Corporation in 1989. He received a Bachelor of Science in Engineering, Civil Specialty from the Colorado School of Mines and graduated from Harvard Business Schools Advanced Management Program. Mr. Kendall currently serves as a director of California Resources Corporation, chair of its Nominating & Corporate Governance Committee, and member of its Audit Committee. He also serves as a director of Carbon TerraVault, a subsidiary of California Resources Corporation. Mr. Kendall will serve on NOV Inc.s Audit Committee upon his appointment to the board.
With the appointment of Mr. Kendall, NOV Inc.s board of directors is now composed of eleven directors, ten of whom are independent members.
About NOV
NOV delivers technology-driven solutions to empower the global energy industry. For more than 150 years, NOV has pioneered innovations that enable its customers to safely produce abundant energy while minimizing environmental impact. The energy industry depends on NOVs deep expertise and technology to continually improve oilfield operations and assist in efforts to advance the energy transition towards a more sustainable future. NOV powers the industry that powers the world.
Visit www.nov.com for more information.
Source: NOV Inc.
CONTACT:
Amie DAmbrosio
Director, Investor Relations
(713) 375-3826
amie.dambrosio@nov.com