Shyam Gidumal
FTAI AviationAbout Shyam Gidumal
Independent Class II director at FTAI Aviation since May 7, 2025; appointed as a member of the Audit Committee. Former President & COO of WeWork (2020–2021) and Principal/Partner at Ernst & Young (2011–2019); long-standing operating executive and advisor. Education disclosed: BA in Mathematics (Columbia College) and MBA (Harvard Business School). FTAI identifies him as a qualified financial expert serving on audit committees.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| WeWork Inc. | President & Chief Operating Officer | Feb 2020 – Nov 2021 | Led global operating turnaround during post-crisis restructuring. |
| Ernst & Young (EY) | Principal/Partner; leader for Consumer Products & Retail and post-merger integration | Mar 2011 – Jun 2019 | Integration leader; sector leadership in retail/consumer. |
| Worldcom (Asia), Acterna, Armstrong Furniture | Senior executive roles (titles not disclosed) | Not disclosed | Operational leadership across telecom, manufacturing. |
| The Boston Consulting Group | Partner | Not disclosed | Strategy and transformation advisory. |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| RenaissanceRe Holdings Ltd. (NYSE: RNR) | Independent director (Class I) | Since May 2022 | Audit Committee member; recognized financial expert; contributes to oversight of accounting, internal controls, and compliance. |
| National Multiple Sclerosis Society | Board member | Since 2014 | Non-profit governance; prior chair of FastForward LLC (venture philanthropy for MS therapies). |
Board Governance
- Independence and appointment: The Board increased size to seven and appointed Gidumal as an independent director effective May 7, 2025; he joined the Audit Committee. No related-party transactions requiring Item 404(a) disclosure were identified.
- Committee structure: FTAI’s Audit, Compensation, and Nominating & Corporate Governance Committees are composed entirely of independent directors. Executive sessions are held with rotating presiding independent committee chairs.
- Audit oversight context: The Audit Committee oversees financial reporting, auditor independence, internal control effectiveness, and risk management; Mr. Paul R. Goodwin is designated as an SEC “financial expert.” Gidumal’s audit experience complements committee strength.
- Attendance baseline: In 2024 the Board met 13 times; no director fell below 75% attendance for board/committee meetings (Gidumal joined in 2025, so his attendance is not yet disclosed).
- Governance policies: FTAI enforces anti-hedging and anti-pledging policies for directors and officers; a clawback policy applies to incentive-based compensation under the Company’s 2025 Plan.
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual cash retainer (non-employee director) | $75,000 | Approved April 30, 2025; pro-rated for 2025 service from May 7. |
| Audit Committee membership fee | $12,500 | Member fee; pro-rated for service in 2025. |
| Indemnification agreement | Standard | Entered upon appointment; indemnification to fullest extent permitted. |
Performance Compensation
| Equity Type | Grant Date | Grant Value | Vesting / Performance |
|---|---|---|---|
| Restricted Stock Units (RSUs) | Not disclosed (granted upon/after appointment) | $145,000 grant date fair value | Director RSUs are service-based; 2025 Plan specifies minimum one-year vesting with allowance for director awards vesting at the earlier of one year or next AGM (≥50 weeks after prior AGM). No performance metrics tied to director RSUs. |
Other Directorships & Interlocks
| Company | Role | Committee(s) | Potential conflict assessment |
|---|---|---|---|
| RenaissanceRe Holdings Ltd. (NYSE: RNR) | Independent director | Audit Committee | Reinsurance industry; no disclosed business dealings with FTAI. No related-party transactions flagged by FTAI on his appointment. |
Expertise & Qualifications
- Financial and operational leadership: 35–40+ years across operations, transformation, and strategy; audit and post-merger integration expertise; qualified financial expert service on audit committees.
- Education: BA in Mathematics (Columbia College) and MBA (Harvard Business School).
- Sector breadth: Experience across real estate/workspace (WeWork), consulting (BCG), professional services (EY), telecom/manufacturing (Worldcom Asia, Acterna, Armstrong).
Equity Ownership
| Item | Status | Source |
|---|---|---|
| Beneficial ownership at FTAI | Not disclosed in 2025 proxy’s April 1, 2025 record date table (appointment May 7, 2025); RSU grant expected as noted. | |
| Pledging/Hedging | Prohibited by company policy for directors and officers. |
Governance Assessment
- Positive signals:
- Strengthens Audit Committee with a seasoned operator and audit/integration specialist; designated independent with no related-party exposure upon appointment.
- Director equity in RSUs aligns with shareholder interests; subject to minimum vesting and clawback protections under the 2025 Plan.
- Monitoring items:
- FTAI faced short-seller allegations and class-action filings in early 2025; the Audit Committee publicly stated an independent review found claims lacking foundation. Continued scrutiny of audit oversight remains prudent; Gidumal’s audit role is salient.
- Compensation alignment:
- 2025 director pay mix (cash retainer + committee fee + RSUs) is balanced and not excessive; pro-ration reflects partial-year service. Annual director compensation is capped by the 2025 Plan.
RED FLAGS currently absent: No Item 404 related-party transactions; no pledging; independence affirmed. Attendance and ownership levels will need future disclosure post the 2025 reporting cycle.