Baker Hughes

Chairman and CEO Lorenzo Simonelli has a credible track record of transforming the portfolio, expanding margins and growing IET since the GE Oil & Gas merger. In 2025 Baker Hughes named Ahmed Moghal CFO, an internal leader from IET finance, reinforcing domain alignment for the next phase of the strategy.

Execution on cost, portfolio pruning, and order capture has been solid across 2024 and 2025, with record annual revenue, adjusted EBITDA and free cash flow in 2024 and strong year‑to‑date 2025 delivery. Risks remain around integrating Chart and managing cycle turns, but management’s operating cadence and transparency are positives.