Michael J. Boskin
Bloom EnergyAbout Michael J. Boskin
Michael J. Boskin (age 79) is an independent Class III director at Bloom Energy, serving since November 2019, and is a member of the Audit Committee and the Nominating, Governance & Public Policy Committee . He is the Tully M. Friedman Professor of Economics and a Senior Fellow at Stanford’s Hoover Institution, and formerly chaired the President’s Council of Economic Advisors (1989–1993), bringing deep economic, policy, and financial expertise; he also served over two decades on ExxonMobil’s board and is currently a director at Oracle Corporation . The Board determined Boskin is independent under NYSE/SEC rules; however, his 2024 meeting attendance was 73.3%, below the 75% threshold, due to scheduling conflicts—an engagement risk to note .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Stanford University | Tully M. Friedman Professor of Economics & Hoover Institution Senior Fellow | 1971–Present | Academic leadership; research on growth, tax/budget policy, saving/consumption; informs macro policy oversight |
| Boskin & Co., Inc. | CEO & President | 1980–Present | Consulting leadership; treasury/tax and economic advisory experience applicable to financing and capital allocation |
| U.S. Government | Chairman, President’s Council of Economic Advisors | 1989–1993 | National economic policy leadership; regulatory/public policy insights relevant to energy markets |
| ExxonMobil | Director | 1996–2018 | Global energy governance experience; regulatory/policy perspectives for energy transition |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Oracle Corporation | Director | Current | Public company board; tech-industry exposure |
| Koret Foundation | Co-President | Current | Philanthropy; education and career advancement focus |
Board Governance
- Committee assignments: Audit Committee member; Nominating, Governance & Public Policy Committee member .
- Independence status: Board determined Boskin and all committee members are independent; all three committees are 100% independent .
- Attendance and engagement: Average Board attendance was 97% in 2024; all directors ≥75% except Boskin at 73.3% due to scheduling conflicts; Board (6), Audit (5), Compensation (5), Nominating (4) meetings held .
- Years of service on BE board: Director since November 2019; Class III term expiring at the 2027 annual meeting .
- Executive sessions: Independent directors met in executive session at every regularly scheduled Board meeting, chaired by the Lead Independent Director .
Fixed Compensation
| Component (2024) | Amount | Detail |
|---|---|---|
| Board cash retainer | $70,000 | Paid quarterly |
| Audit Committee member fee | $15,000 | Member fee (Chair receives higher, not applicable) |
| Nominating Committee member fee | $5,000 | Member fee |
| Total cash fees paid | $90,000 | Matches reported 2024 cash for Boskin |
Performance Compensation
| Equity Component (2024) | Grant Value | Instrument | Vesting | Notes |
|---|---|---|---|---|
| Annual director grant | $200,000 | RSUs | Vests on date of next Annual Meeting, subject to service | 2024 program allowed options in lieu of RSUs; Boskin elected RSUs |
| Outstanding awards (12/31/2024) | 15,552 units | RSUs | Per award terms | No option awards shown for Boskin |
Performance metrics: None disclosed for non-employee director equity; awards are time-based RSUs (and, if elected, options with same vesting schedule), not performance-conditioned .
Other Directorships & Interlocks
| Company/Entity | Role | Relationship to BE |
|---|---|---|
| Oracle Corporation | Director | No related-party transactions disclosed involving Boskin; Board has a related-party policy overseen by Audit Committee/Nominating Committee |
| ExxonMobil (prior) | Director (1996–2018) | Historical experience; not a current interlock |
| Koret Foundation | Co-President | Charitable role; transactions of certain charitable types are pre-approved within limits |
Expertise & Qualifications
- Internationally recognized economist with expertise in growth, tax/budget policy, saving/consumption; brings macroeconomic, treasury, and financing insights to energy project finance and corporate strategy .
- Energy-sector governance experience from 20+ years on ExxonMobil’s board; regulatory and policy guidance for global energy transition .
- Academic leadership and consulting CEO experience support oversight of scaling, governance, and sustainability practices .
Equity Ownership
| Measure | Amount | Notes |
|---|---|---|
| Beneficial ownership (Class A) | 76,406 shares; <1% of shares outstanding | As of Feb 28, 2025; “<1%” indicated by table |
| RSUs outstanding (director awards) | 15,552 RSUs (12/31/2024) | Time-based vesting per program |
| Options | None disclosed for Boskin | Option program available; Boskin elected RSUs |
| Deferred compensation units | Not indicated for Boskin | Deferred plan exists; specific deferrals noted for other directors, not Boskin |
| Ownership guidelines | Requirement: 4× annual cash retainer; 100% director compliance at YE 2024 | Alignment signal |
| Hedging/pledging | Prohibited by policy | Governance best practice |
Governance Assessment
- Strengths: Independent status; dual committee service (Audit and Nominating) overseeing ERM, cybersecurity, related-party policy, governance refreshment, sustainability/public policy—relevant to BE’s regulated energy context . Economic and energy-policy expertise enhances oversight of capital allocation, financing models, and regulatory risks .
- Alignment: Director equity is in RSUs with mandatory ownership guidelines (≥4× cash retainer) and full compliance, supporting alignment with shareholder interests .
- Risks/Red flags:
- Attendance: 73.3% attendance in 2024 versus Board average 97%—below typical governance expectations; may signal engagement risk and affect committee effectiveness if persistent .
- Ownership: Beneficial stake <1% and no disclosed options or deferred units for Boskin—limited “skin-in-the-game,” partially mitigated by ownership requirements .
- Conflicts: Current Oracle directorship noted; proxy discloses no related-party transactions tied to Boskin; related-party oversight sits with Audit/Nominating per policy .
Overall: Boskin brings high-value macroeconomic and energy-governance expertise and serves on key committees, but 2024 attendance shortfall is a material governance concern to monitor alongside ownership alignment under BE’s director stock ownership policy .