Baker Hughes, a GE company, said that the current BHGE president and CEO, Lorenzo Simonelli, has been appointed as chairman of the BHGE board, effective October 2.
Simonelli will continue in his president and CEO role, which he has held since the closing of the combination of Baker Hughes and GE’s Oil and Gas business in July. He replaces former GE chairman and CEO Jeff Immelt, who retired from the BHGE board of directors effective October 2.
In addition to Immelt’s departure, BHGE board member Larry Nichols decided to resign from the board. Nichols served as a member of the legacy Baker Hughes Incorporated board.
With these two resignations, BHGE has reduced the size of its board to nine members and has named current GE-designee BHGE board member Geoffrey Beattie as the new lead director.
GE owns approximately 62.5 percent of BHGE, and retains five designated seats on the BHGE board.