Baker Hughes 2004 Annual Report Download - page 60

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Paul฀S.฀Butero฀ 48
Vice฀President฀of฀the฀Company฀and฀President฀of฀Hughes฀
Christensen฀since฀2005.฀Employed฀as฀Vice฀President,฀
Marketing,฀of฀Hughes฀Christensen฀from฀2001฀to฀2005฀
and฀as฀Region฀Manager฀for฀various฀Hughes฀Christensen฀
areas฀(both฀in฀the฀United฀States฀and฀the฀Eastern฀Hemi-
sphere)฀from฀1989฀to฀2001.฀Employed฀by฀the฀Company฀
in฀1981.
Martin฀S.฀Craighead฀ 45
Vice฀President฀of฀the฀Company฀and฀President฀of฀Baker฀
Atlas฀since฀2005.฀Served฀as฀Vice฀President฀of฀Worldwide฀
Operations฀for฀Baker฀Atlas฀from฀2003฀to฀2005฀and฀฀
Vice฀President,฀Marketing฀and฀Business฀Development฀฀
for฀Baker฀Atlas฀from฀2001฀to฀2003;฀Region฀Manager฀฀
for฀Baker฀Atlas฀in฀Latin฀America฀and฀Asia฀and฀Region฀
Manager฀for฀E&P฀Solutions฀from฀1995฀to฀2001.
Employed฀by฀BJ฀Services฀Company฀as฀a฀Region฀Engineer฀
from฀1982฀to฀1986.฀Employed฀by฀the฀Company฀in฀1986.
William฀P.฀Faubel฀ 49
Vice฀President฀of฀the฀Company฀and฀President฀of฀Centri-
lift฀since฀2001.฀Employed฀as฀Vice฀President,฀Marketing,฀
of฀Hughes฀Christensen฀from฀1994฀to฀2001฀and฀as฀
Region฀Manager฀for฀various฀Hughes฀Christensen฀areas฀
(both฀domestic฀and฀international)฀from฀1986฀to฀1994.฀
Employed฀by฀the฀Company฀in฀1977.
Edwin฀C.฀Howell฀ 57
Vice฀President฀of฀the฀Company฀since฀1995฀and฀President฀
of฀Baker฀Petrolite฀Corporation฀since฀2003.฀President฀of฀
Baker฀Oil฀Tools฀from฀1992฀to฀2003.฀Employed฀as฀Presi-
dent฀of฀Baker฀Service฀Tools฀from฀1989฀to฀1992฀and฀
Vice฀President฀–฀General฀Manager฀of฀Baker฀Performance฀
Chemicals฀(the฀predecessor฀of฀Baker฀Petrolite)฀from฀
1984฀to฀1989.฀Employed฀by฀the฀Company฀in฀1975.
Alan฀J.฀Keifer฀ 50
Vice฀President฀and฀Controller฀of฀the฀Company฀since฀
July฀1999.฀Employed฀as฀Western฀Hemisphere฀Controller฀
of฀Baker฀Oil฀Tools฀from฀1997฀to฀1999฀and฀Director฀of฀
Corporate฀Audit฀for฀the฀Company฀from฀1990฀to฀1996.฀
Employed฀by฀the฀Company฀in฀1990.
Jay฀G.฀Martin฀ 53
Vice฀President,฀Chief฀Compliance฀Officer฀and฀Senior฀
Deputy฀General฀Counsel฀since฀July฀2004.฀Shareholder฀at฀
Winstead฀Sechrest฀&฀Minick฀P.C.฀from฀2001฀to฀July฀
2004.฀Partner,฀Phelps฀Dunbar฀from฀2000฀to฀2001฀and฀
Partner,฀Andrews฀&฀Kurth฀from฀1996฀to฀2000.฀Employed฀
by฀the฀Company฀in฀2004.
John฀A.฀O’Donnell฀ 57
Vice฀President฀of฀the฀Company฀since฀1998฀and฀President฀
of฀Baker฀Hughes฀Drilling฀Fluids฀since฀2004.฀Employed฀
as฀Vice฀President,฀Business฀Process฀Development฀of฀the฀
Company฀from฀1998฀to฀2002;฀Vice฀President,฀Manufac-
turing,฀of฀Baker฀Oil฀Tools฀from฀1990฀to฀1998฀and฀Plant฀
Manager฀of฀Hughes฀Tool฀Company฀from฀1988฀to฀1990.฀
Employed฀by฀the฀Company฀in฀1975.
There฀are฀no฀family฀relationships฀among฀our฀executive฀officers.
Environmental฀Matters
We฀are฀committed฀to฀the฀health฀and฀safety฀of฀people,฀฀
protection฀of฀the฀environment฀and฀compliance฀with฀laws,฀฀
regulations฀and฀our฀policies.฀Our฀past฀and฀present฀operations฀
include฀activities฀that฀are฀subject฀to฀domestic฀(including฀
U.S.฀federal,฀state฀and฀local)฀and฀international฀regulations฀
with฀regard฀to฀air฀and฀water฀quality฀and฀other฀environmental฀
matters.฀We฀believe฀we฀are฀in฀substantial฀compliance฀with฀these฀
regulations.฀Regulation฀in฀this฀area฀continues฀to฀evolve,฀and฀
changes฀in฀standards฀of฀enforcement฀of฀existing฀regulations,฀
as฀well฀as฀the฀enactment฀and฀enforcement฀of฀new฀legislation,฀
may฀require฀us฀and฀our฀customers฀to฀modify,฀supplement฀or฀
replace฀equipment฀or฀facilities฀or฀to฀change฀or฀discontinue฀
present฀methods฀of฀operation.
We฀are฀involved฀in฀voluntary฀remediation฀projects฀at฀some฀
of฀our฀present฀and฀former฀manufacturing฀facilities,฀the฀major-
ity฀of฀which฀relate฀to฀properties฀obtained฀in฀acquisitions฀or฀
to฀sites฀no฀longer฀actively฀used฀in฀operations.฀On฀rare฀occa-
sions,฀remediation฀activities฀are฀conducted฀as฀specified฀by฀a฀
government฀agency-issued฀consent฀decree฀or฀agreed฀order.฀
Remediation฀costs฀are฀accrued฀based฀on฀estimates฀of฀probable฀
exposure฀using฀currently฀available฀facts,฀existing฀environmental฀
permits,฀technology฀and฀presently฀enacted฀laws฀and฀regula-
tions.฀For฀sites฀where฀we฀are฀primarily฀responsible฀for฀the฀
remediation,฀our฀cost฀estimates฀are฀developed฀based฀on฀฀
internal฀evaluations฀and฀are฀not฀discounted.฀Such฀accruals฀
are฀recorded฀when฀it฀is฀probable฀that฀we฀will฀be฀obligated฀
to฀pay฀amounts฀for฀environmental฀site฀evaluation,฀remediation฀
or฀related฀activities,฀and฀such฀amounts฀can฀be฀reasonably฀esti-
mated.฀If฀the฀obligation฀can฀only฀be฀estimated฀within฀a฀range,฀
we฀accrue฀the฀minimum฀amount฀in฀the฀range.฀Such฀accruals฀
are฀recorded฀even฀if฀significant฀uncertainties฀exist฀over฀the฀฀
ultimate฀cost฀of฀the฀remediation.฀Ongoing฀environmental฀฀
compliance฀costs,฀such฀as฀obtaining฀environmental฀permits,฀
installation฀of฀pollution฀control฀equipment฀and฀waste฀disposal,฀
are฀expensed฀as฀incurred.
During฀the฀year฀ended฀December฀31,฀2004,฀we฀spent฀
approximately฀$24.4฀million฀to฀comply฀with฀domestic฀and฀฀
international฀standards฀regulating฀the฀discharge฀of฀materials฀
into฀the฀environment฀or฀otherwise฀relating฀to฀the฀protection฀฀
of฀the฀environment฀(collectively,฀“Environmental฀Regulations”).฀
This฀cost฀includes฀the฀total฀spent฀on฀remediation฀projects฀at฀
current฀or฀former฀sites,฀Superfund฀projects฀and฀environmental฀
compliance฀activities,฀exclusive฀of฀capital.฀In฀2005,฀we฀expect฀to฀
spend฀approximately฀$26.4฀million฀to฀comply฀with฀Environmental฀
10฀฀฀฀฀Baker฀Hughes฀Incorporated