David Knox (businessman)

David John Wissler Knox is an Australian oil and gas industry executive and former Chief Executive Officer and Managing Director of Santos Limited. Knox is originally from Edinburgh, Scotland[1] and is considered to be one of South Australia's most influential people.[2]

Career

Knox was appointed to Santos CEO and MD positions in July 2008 after joining the company the previous year. Knox was previously Managing Director for BP Developments in Australasia from 2003 to 2007. He has worked for BP in the United Kingdom and Pakistan, and has held management and engineering positions at ARCO and Shell in the USA, Netherlands, the United Kingdom and Norway. In August 2015 Knox announced that he would be leaving his leadership positions at Santos as soon as a successor had been appointed.[3][4] As of 2016, Knox is the Chairman of the Australian Petroleum Production and Exploration Association (APPEA).[5]

Coal seam gas

On his appointment to MD in 2008 Knox announced that coal seam gas production would become a key focus.[6] This followed on from the work of his predecessor, John Ellice-Flint. As of September 2014, the Gladstone LNG project is approaching completion as the company's future gas gateway to export markets. Knox has remained optimistic about the project reaching completion in time to deliver first shipments in 2015.[7]

Knox has defended coal seam gas in response to protesters involved with the Lock the Gate Alliance and the Wilderness Society who have raised concerns about soil and water contamination from fracking. He believes that coal seam gas provides a way forward to a low carbon economy due to it burning at least 50% cleaner than coal. He has described coal seam gas opposition as misinformed, lacking in understanding and in some cases "deliberately pushed by people who will never support the resources industry."[8]

Remuneration

In 2008, Knox's salary at Santos was $1.75 million, with potential to double the figure if certain performance targets were met.[6] His salary became a controversial topic in 2012, after it was revealed that he was to earn $2.25 million in base salary, plus bonuses for achieving targets under short-term and long-term incentive plans up to a total of $6.75 million. His earnings were four times that of any other Santos executive. A consultant's report commissioned by the company claimed that Mr Knox was not paid as well as his peers in other companies, despite the managing director of Woodside Petroleum, a company more than twice the size of Santos, being paid the same as Knox in 2011.[9] His total financial compensation for the year 2013 was $6,263,668.[10] In the fiscal year 2014, his total calculated compensation was $6,782,702.[11] In 2016, following his departure from Santos, The Advertiser reported that Knox had received more than AUD$30 million during his employment with the company.[12]

Memberships

David Knox holds a number of positions on a variety of boards and councils. These include:[13]

Former Memberships

Personal life

Knox, his wife Clare and their son Cameron migrated to Australia in 2003 and became Australian citizens in 2010.[14]

References

  1. ↑ "David Knox". RiAus. Retrieved 2014-10-13.
  2. 1 2 "Power List - The 50 South Australians who have a mighty influence". The Australian. 2013-06-01. Retrieved 2014-10-13.
  3. ↑ "EnergyNewsPremium.net - Knox to leave Santos, asset sales considered". www.energynewspremium.net. Retrieved 2015-11-09.
  4. ↑ "Departing Santos boss David Knox admits GLNG will start producing 'in a dip'". The Sydney Morning Herald. Retrieved 2015-11-09.
  5. ↑ "David Knox, Australian Petroleum Production & Exploration Association: Profile & Biography". Bloomberg. Retrieved 2016-05-25.
  6. 1 2 "Santos appoints David Knox as CEO". Sydney Morning Herald. 2008-07-29. Retrieved 2014-10-13.
  7. ↑ Chambers, Matt (2014-09-15). "Crunch time for the great gas gateway". Retrieved 2014-10-13.
  8. ↑ Roberts, Greg (2011-08-11). "CSG vital to reduce carbon, says Knox". The Courier Mail. Retrieved 2014-10-14.
  9. ↑ "Santos chief's $3.8m pay packet is too small, company claims". News.com.au. 2012-03-30. Retrieved 2014-10-13.
  10. ↑ "David John Wissler Knox". Bloomberg Businessweek. Retrieved 2014-10-13.
  11. ↑ "David John Wissler Knox BSc (Hons) Mech Eng, MBA, FIEAust, FTSE: Executive Profile & Biography - Businessweek". Businessweek.com. Retrieved 2015-08-01.
  12. ↑ England, Cameron (2016-04-01). "Ex-Santos chief David Knox earned $30m during his term and still to get more after ousting". The Advertiser. Retrieved 2016-04-01.
  13. ↑ "Directors & Management". Santos Ltd. Retrieved 2014-10-13.
  14. ↑ Christopher, Russell (2010-09-17). "Santos boss David Knox now an Australian citizen". The Advertiser. Retrieved 2014-10-13.
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