Houston-based energy services company to cut execs’ pay

Houston-based Oceaneering International Inc. (NYSE: OII) executives have agreed to base salary reductions, the company announced May 4.

The reductions are part of the company’s efforts to reduce costs amid the Covid-19 pandemic and the energy market crises.

Effective May 1, CEO Roderick A. Larson’s base salary will be reduced by 15%. Additionally, base salaries for executive-level management, including the executive leadership team and senior vice presidents, will be reduced by 10%, and base salaries…


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