Baker Hughes Co. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Baker Hughes Company and Baker Hughes Holdings LLC on November 12, 2021. The report discloses a corporate governance event regarding the election of a new director to the Board of Directors.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial performance data.
Material Changes
The Board of Directors elected Michael R. Dumais to serve as a director, effective January 1, 2022. Consequently, the size of the Board will expand from nine to ten members. Mr. Dumais is currently the Executive Vice President & Chief Transformation Officer at Raytheon Technologies.
Outlook, Risks, and Management Commentary
Mr. Dumais has been determined to be independent under Nasdaq corporate governance requirements and Rule 10A-3 of the Securities Exchange Act of 1934. He will serve on the Audit and the Governance & Corporate Responsibility Committees. His compensation will be consistent with that of other non-employee directors. There are no related party transactions requiring disclosure under Item 404(a) of Regulation S-K.
Key Facts for Investor Verification
- New Director: Michael R. Dumais elected to the Board.
- Effective Date: January 1, 2022.
- Board Size Change: Expanding from 9 to 10 members.
- Committee Assignments: Audit and Governance & Corporate Responsibility.
- Independence Status: Confirmed independent under Nasdaq and SEC rules.