Baker Hughes Chairman Chad Deaton to Retire, Martin Craighead to Assume Role
HOUSTON, Jan. 25, 2013
HOUSTON, Jan. 25, 2013 /PRNewswire/ -- Baker Hughes Incorporated (NYSE: BHI)
announced today that Chad Deaton will retire from Baker Hughes on April 25,
2013 at the Company's Annual Meeting and that Martin Craighead will become
Chairman in addition to his current role as President and Chief Executive
John Riley, Lead Director of the Baker Hughes Board, said "Chad has provided
more than eight years of exceptional leadership to Baker Hughes and its
employees throughout the world. He has helped transform the company into one
of the strongest companies in the marketplace as a leader in technology with a
highly talented workforce. Martin has already demonstrated exemplary skill
and vision in his tenure as CEO."
"It will be an honor to succeed Chad as Chairman," said Craighead. "Baker
Hughes' remarkable employees combined with our best-in-class products and
innovative solutions for the oil and gas industry allows us to further enhance
our success in delivering value to our customers and stockholders."
Deaton joined Baker Hughes in 2004 serving as Chairman, President, and CEO
until January 2012, when he assumed the role of Executive Chairman. Craighead
began working with the company in 1986, and has served as President and CEO
since January 2012. He was appointed Chief Operating Officer in 2009 and
President in 2010.
"I am confident that with Martin, Baker Hughes has the optimal leadership for
the future," Deaton said. "Martin is an outstanding leader with proven skills
in both the commercial and technological realms. The Board of Directors has
made an excellent choice, and I am confident that Martin's knowledge of our
business and the industry will greatly benefit our investors, customers and
employees for many years to come."
Craighead has a Bachelor of Science degree in Petroleum and Natural Gas
Engineering from Pennsylvania State University and a Master of Business
Administration degree from Vanderbilt University. The recipient of the 2010 C.
Drew Stahl Distinguished Achievement Award at Pennsylvania State University,
Craighead serves his community in a variety of charitable organizations.
As Baker Hughes' CEO, Craighead oversees operations in more than 80 countries
and more than 58,000 employees. Baker Hughes is a leading supplier of oilfield
services, products, technology and systems to the worldwide oil and natural
gas industry. Baker Hughes helps customers find, evaluate, drill, produce,
transport and process hydrocarbon resources. For more information on Baker
Hughes' century-long history, visit www.bakerhughes.com.
Media Relations: Teresa Wong, +1.713.439.8110,
Investor Relations: Trey Clark, +1.713.439.8039, email@example.com
Eric Holcomb, +1.713.439.8822,
SOURCE Baker Hughes Incorporated
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