Michael R. Dumais
Baker HughesAbout Michael R. Dumais
Independent director of Baker Hughes (BKR) since 2022; age 58. Former Executive Vice President & Chief Transformation Officer at Raytheon Technologies (Jan 2021–Mar 2022) and senior strategy/operations leader at United Technologies; profile emphasizes transformation, operations, finance, and risk oversight. Director is independent under Nasdaq/SEC rules; Board recorded each director’s attendance above 80% in 2024 (Board met 6 times) and directors attended the 2024 Annual Meeting .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Raytheon Technologies | Executive Vice President & Chief Transformation Officer | Jan 2021 – Mar 2022 | Led enterprise transformation; technology and implementation experience |
| Raytheon Technologies / United Technologies | EVP Strategy; EVP Operations; SVP Strategy | 2015 – 2021 | Strategy formulation; operational excellence; risk management |
| United Technologies | President, Hamilton Sundstrand Division; Co‑President, Aerospace Systems Division | 2011 – 2015 | P&L leadership; industrial operations |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| National Association of Manufacturers | Director | 2018 – 2022 | Industry advocacy board service |
| Public company boards | — | — | No other public company board memberships in past five years |
Board Governance
- Committee assignments:
- 2024: Governance & Corporate Responsibility (Member); Finance (Member)
- Effective May 1, 2025: Governance & Corporate Responsibility (Chair); Finance (Member)
- Independence and attendance:
- Board determined all nominees other than CEO are independent; committee memberships comprised entirely of independent directors
- Board held 6 meetings in 2024; each director attended >80%; directors attended 2024 Annual Meeting
- Governance & Corporate Responsibility Committee remit (as Chair): board composition and effectiveness; Governance Principles; HSE oversight; sustainability disclosures and Corporate Sustainability Report; monitoring related-party transactions and geopolitical/public policy risks
- Board evaluation: process managed by Lead Independent Director in coordination with the G&CR Chair; training formalized (e.g., AI, cybersecurity)
Fixed Compensation
| Component (2024) | Amount | Notes |
|---|---|---|
| Fees Earned or Paid in Cash | $140,000 | Director retainer + committee fees |
| Stock Awards (RSUs) | $175,000 | May 22, 2024 grant; immediately vesting; number of shares determined at $32.09 close |
| All Other Compensation | $0 | No dividend equivalents or deferrals reported for Dumais in 2024 |
| Total | $315,000 | Sum of components |
Program updates effective January 1, 2025:
- Annual cash retainer increases to $125,000; annual RSU grant expected at $180,000 (on Annual Meeting date)
- Committee fees: Audit Chair $25,000; Human Capital & Compensation Chair $25,000; Other Committee Chairs $20,000; Audit Members $10,000; Other Committee Members $7,500; Lead Director $40,000
- Director Deferral Plan amended: RSUs and deferred fees convert to DSUs and settle in shares upon Board departure; DSUs accrue dividend equivalents quarterly as additional DSUs
Performance Compensation
- Baker Hughes does not grant performance-based equity (e.g., PSUs) or options to non‑employee directors; annual director equity is in RSUs that vest immediately (deferrable as DSUs)
| Performance-linked elements for Directors | Status |
|---|---|
| PSUs / Option awards | Not granted to non‑employee directors |
| Performance metrics tied to director pay | Not applicable (no performance awards) |
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company boards | None |
| Prior public company boards (past 5 years) | None |
| Non-profit/industry boards | National Association of Manufacturers (2018–2022) |
| Interlocks/related entities | None disclosed relating to Dumais; G&CR oversees related-party review |
Expertise & Qualifications
- Leadership across multinational industrials; transformation and technology implementation; finance/investment; operations; risk management; environmental and HR expertise as cited in biography .
- Committee leadership in governance, sustainability oversight, and Board effectiveness aligns with profile .
Equity Ownership
| Metric | Value | Notes |
|---|---|---|
| Shares owned (as of Mar 24, 2025) | 36,807 | Class A Common Stock |
| % of shares outstanding | <1% | 990,349,581 shares outstanding; percent not shown for <1% holders |
| Options/RSUs (director awards) | None outstanding | 2024 director RSU vested immediately; no director options program |
| DSUs outstanding | 0 | Aggregate stock awards (vested DSUs) shown as “—” for Dumais |
| Hedging/pledging | Prohibited for directors under Insider Trading Policy | |
| Ownership guideline | 5× annual base retainer; all directors compliant or on track within 5 years |
Governance Assessment
- Strengths:
- Independence, strong attendance, and forthcoming chairship of the Governance & Corporate Responsibility Committee position Dumais to influence board effectiveness, sustainability, HSE, and conflict oversight .
- Clear alignment via equity holdings and ownership guidelines; prohibited hedging/pledging improves investor alignment .
- No disclosed related-party transactions involving Dumais; Board codifies robust related‑party review under G&CR .
- Director training plan and structured board evaluations enhance oversight quality; G&CR Chair co‑manages evaluation process with LID .
- Signals of investor confidence:
- 2024 say‑on‑pay support at 95.2% indicates broad shareholder support for compensation governance (not director‑specific but relevant to overall governance climate) .
- Potential risks/RED FLAGS:
- None disclosed specific to Dumais (no Section 16(a) delinquencies; no related‑party transactions; no pledging/hedging) .
Net assessment: Dumais’ profile and committee leadership suggest constructive influence on governance, sustainability, and conflict oversight, with clean independence/attendance and aligned ownership; no conflict red flags identified in disclosures .