Peter A. Ragauss
WILLIAMS COMPANIESAbout Peter A. Ragauss
Independent director of The Williams Companies since 2016; age 67. Former SVP & CFO of Baker Hughes (retired 2014) with an MBA from Harvard Business School and a BS in Mechanical Engineering from Michigan State University, bringing deep finance and energy-industry expertise to Williams’ board . He serves on the Audit Committee and the Governance & Sustainability Committee; the board determined him independent in January 2025 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Baker Hughes Company | Senior Vice President & Chief Financial Officer | ~2006–2014 (8 years) | Led finance for a global oilfield services firm |
| BP Plc | Controller, Refining & Marketing | 2003–2006 | Oversight of downstream financial reporting |
| Air BP | Chief Executive Officer | 2000–2003 | Ran BP’s aviation fuels business |
| BP Amoco | Assistant to Group Chief Executive | 1998–2000 | Corporate strategy support at group level |
| Amoco Energy International | VP, Finance & Portfolio Mgmt | pre-1998 | Finance leadership pre-merger with BP |
| El Paso Energy International | VP, Finance | 1996–1998 | International finance leadership |
| Tenneco Inc. | Various finance roles | 1993–1996 | Finance roles of increasing responsibility |
| Kidder, Peabody & Co. | Various roles | 1987–1993 | Capital markets experience |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| APA Corporation | Director | 2014–present | Audit Committee member |
| Skulte LNG (private) | Director | Current | Private energy company board in Latvia |
Board Governance
- Committees: Audit; Governance & Sustainability .
- Independence: Affirmed independent (January 2025); ordinary-course transactions with APA were reviewed and deemed below NYSE thresholds and not related party under Item 404(a) .
- Audit committee financial expert: Identified by the board as one of four Audit Committee financial experts (Creel, Ragauss, Robeson, Tyson) .
- Attendance: Board met 5 times in 2024; independent directors held executive sessions at each regularly scheduled meeting; each director attended ≥75% of applicable meetings and all attended the 2024 annual meeting .
- Overboarding safeguards: Williams limits directors to ≤4 public boards and audit members to ≤3 audit committees without board approval; Ragauss’ current external load (WMB + APA) is within policy .
Fixed Compensation
| Component | Amount | Terms |
|---|---|---|
| Annual Cash Retainer | $120,000 | Paid quarterly; 2024 increase from $115,000 |
| Annual Equity Retainer (RSUs) | $185,000 | Granted on annual meeting date; deferred until retirement; dividend equivalents reinvested |
| Committee Chair Fees | N/A | Not currently a chair (Audit Chair is Robeson; other chairs as listed) |
Director compensation program totals for 2024 (actual):
| Name | Cash Fees | Stock Award (Grant-Date FV) | All Other Comp. | Total |
|---|---|---|---|---|
| Peter A. Ragauss | $118,750 | $185,010 | $15,000 | $318,760 |
| Notes | Quarterly retainer | Time-based RSUs valued under ASC 718 | Matching grants/United Way | Sum of components |
Performance Compensation
| Item | Detail |
|---|---|
| Performance metrics tied to director pay | None; non-employee director RSUs are time-based and deferred until retirement (no AIP/PSU metrics for directors) |
Other Directorships & Interlocks
| Company | Relationship | Committee Roles | Governance Consideration |
|---|---|---|---|
| APA Corporation | Current public company directorship | Audit Committee | Williams’ independence review considered ordinary-course transactions with APA; determined below NYSE thresholds and not a related party transaction in 2024 |
| Skulte LNG (private) | Director | — | Private company; no Williams related-party transaction disclosures |
Expertise & Qualifications
- Deep finance and accounting expertise tailored to energy; capital markets and M&A; executive leadership; information technology/cyber and governance experience .
- Audit Committee financial expert designation enhances board oversight of reporting, controls, and risk .
Equity Ownership
| Date/Measure | Direct/Indirect Shares | RSUs Vestable Within 60 Days | Total Beneficial Ownership | % of Shares Outstanding |
|---|---|---|---|---|
| March 7, 2024 | 3,428 | 56,246 | 59,674 | <1% |
Outstanding director equity awards (as of December 31, 2024):
| Holder | Units of Stock Outstanding | Options Exercisable |
|---|---|---|
| Peter A. Ragauss | 63,653 | — |
Alignment policies:
- Stock ownership guideline: Directors must hold stock equal to 5x annual cash retainer; equity granted to directors is deferred until retirement .
- Hedging/pledging: Prohibited for directors, officers, and employees under Williams’ Policy on Securities Trading .
Governance Assessment
- Strengths: Independence affirmed with explicit review of APA ties; robust committee service on Audit and Governance & Sustainability; audit financial expert status; strong attendance culture; strict ownership and anti-hedging/pledging policies enhancing alignment .
- Potential conflicts: External directorship at APA with ordinary-course transactions to Williams—reviewed and deemed non-material/not related-party in 2024; continued monitoring advisable as market conditions evolve .
- Compensation signals: Balanced cash/equity director pay, with equity deferred until retirement; no performance-linked director equity reduces short-term risk-taking incentives but preserves long-term alignment through deferral and ownership guidelines .
- RED FLAGS: None disclosed—no related party transactions requiring approval in 2024; overboarding limits and audit committee load within policy; pledging/hedging prohibited .