Baker Hughes Inc. (NYSE: BHI) announced changes to its organizational structure and senior leadership team on May 25. The changes follow the company’s May 2 announcement of its plans to simplify its business structure in order to reduce costs and to enhance its commercial strategy.
This followed the May 1 announcement that BHI had agreed to break off a merger agreement with Halliburton Co. (NYSE: HAL).
With the most recent announcement, BHI said it is consolidating its previous regional operations structure into one global organization with “responsibility for driving outstanding operational performance, exceptional service and sales execution, as well as delivering strong operating profits.”
Belgacem Chariag, who was most recently the company’s vice president and chief integration officer, will now serve as president of global operations.
BHI is also combining its technology and global products and services (GPS) organizations to create one global organization responsible for strengthening the company’s technology commercialization and investment strategy. Art Soucy, previously president of the company’s Europe, Africa and Russia Caspian (EARC) region, will serve as president of products and technology. He also will be responsible for optimizing the company’s supply chain and procurement capabilities.
Derek Mathieson will serve as chief commercial officer of the newly formed commercial strategy organization. He will lead the commercial growth strategy for the company while developing a broader range of sales channels for its products and technology. Mathieson, who previously was vice president, chief technology and marketing officer, also will lead future business incubation efforts and corporate development planning and implementation.
Richard Williams, formerly the president of the company’s North America region, will play a critical role in the organizational transitions outlined above. Serving as senior adviser to the company’s executive leadership team, Williams will use his extensive operational experience to assist the company in implementing these changes without disruption to operational performance or customer commitments.
“These changes to our organizational design and leadership team demonstrate that we are moving quickly and decisively to execute on the strategy we outlined earlier this month,” Martin Craighead, chairman and CEO of Baker Hughes, said in a statement.
“While we have more hard work ahead of us, the entire Baker Hughes team is committed to building on our strong foundation as a product innovator to deliver outstanding performance to our customers and significant value to our shareholders.”
All changes noted above were effective as of May 24.
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