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Baker Hughes Management

Management criteria checks 1/4

Baker Hughes' CEO is Lorenzo Simonelli, appointed in Jul 2017, he has a tenure of 5.92 years. His total yearly compensation is $16.09M , comprised of 9.6% salary and 90.4% bonuses, including company stock and options. He directly owns 0.069% of the company’s shares, worth $20.76M. The average tenure of the management team and the board of directors is 1.4 years and 5.9 years respectively.

Key information

Lorenzo Simonelli

Chief executive officer

US$16.1m

Total compensation

CEO salary percentage	9.6%
CEO tenure	5.9yrs
CEO ownership	0.07%
Management average tenure	1.4yrs
Board average tenure	5.9yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Lorenzo Simonelli's remuneration changed compared to Baker Hughes's earnings?
Date	Total Compensation	Salary	Company Earnings
Mar 31 2023	n/a	n/a	-US$97m
Dec 31 2022	US$16m	US$2m	-US$601m
Sep 30 2022	n/a	n/a	-US$490m
Jun 30 2022	n/a	n/a	-US$466m
Mar 31 2022	n/a	n/a	US$305m
Dec 31 2021	US$16m	US$1m	-US$219m
Sep 30 2021	n/a	n/a	US$140m
Jun 30 2021	n/a	n/a	-US$38m
Mar 31 2021	n/a	n/a	-US$165m
Dec 31 2020	US$15m	US$1m	-US$10b
Sep 30 2020	n/a	n/a	-US$11b
Jun 30 2020	n/a	n/a	-US$10b
Mar 31 2020	n/a	n/a	-US$10b
Dec 31 2019	US$15m	US$1m	US$128m
Sep 30 2019	n/a	n/a	US$211m
Jun 30 2019	n/a	n/a	US$167m
Mar 31 2019	n/a	n/a	US$157m
Dec 31 2018	US$16m	US$1m	US$195m
Sep 30 2018	n/a	n/a	US$95m
Jun 30 2018	n/a	n/a	-US$52m
Mar 31 2018	n/a	n/a	-US$33m
Dec 31 2017	US$13m	US$700k	-US$103m

Compensation vs Market: Lorenzo's total compensation ($USD16.09M) is above average for companies of similar size in the PE market ($USD5.78M).

Compensation vs Earnings: Lorenzo's compensation has increased whilst the company is unprofitable.

CEO

Lorenzo Simonelli (50 yo)

5.9yrs

Tenure

US$16,091,588

Compensation

Mr. Lorenzo Simonelli has been Senior Non-Executive Director at Iveco Group N.V. since March 2022. He serves as Independent Non-Executive Director of Iveco Group N.V. He has been the Chief Executive July 2...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Lorenzo Simonelli	Chairman	5.9yrs	US$16.09m	0.069% $ 20.8m
Nancy Buese	Chief Financial Officer	less than a year	US$7.14m	no data
Maria Borras	Executive Vice President of Oilfield Services & Equipment	no data	US$8.11m	0.0083% $ 2.5m
Brian Worrell	Strategic Advisor	less than a year	US$8.53m	0.0035% $ 1.1m
Kurt Camilleri	Senior VP	no data	no data	0.00010% $ 29.9k
Rebecca Charlton	Senior VP	no data	no data	no data
Jeff Fleece	Chief Information Officer	1.4yrs	no data	no data
Judson Bailey	Vice President of Investor Relations	3.8yrs	no data	no data
Regina Jones	Chief Legal Officer	3.1yrs	no data	0.0082% $ 2.4m
Deanna Jones	Executive Vice President of People	3.4yrs	no data	no data
Neeraj Sethi	Director of Sales & Commercial - OFS	no data	no data	no data
Jim Apostolides	Senior Vice President of Enterprise Operational Excellence	less than a year	no data	0.0011% $ 335.4k

1.4yrs

Average Tenure

50yo

Average Age

Experienced Management: BKR's management team is not considered experienced ( 1.4 years average tenure), which suggests a new team.

Board Members

Name	Position	Tenure	Compensation	Ownership
Lorenzo Simonelli	Chairman	5.9yrs	US$16.09m	0.069% $ 20.8m
Gregory Brenneman	Independent Director	5.9yrs	US$368.53k	0.0017% $ 497.1k
John Rice	Non-Independent Director	5.9yrs	US$327.72k	0.0047% $ 1.4m
Cynthia Blum Carroll	Independent Director	3.1yrs	US$317.52k	0.0030% $ 910.3k
Mohsen Sohi	Director	less than a year	no data	no data
William Beattie	Lead Independent Director	5.9yrs	US$393.46k	0.0013% $ 386.3k
Michael Dumais	Independent Director	1.4yrs	US$313.23k	0.0031% $ 928.3k
Lynn Elsenhans	Independent Director	5.9yrs	US$330.02k	0.0082% $ 2.5m
Nelda Connors	Independent Director	3.1yrs	US$180.16k	0.0030% $ 910.3k

5.9yrs

Average Tenure

63yo

Average Age

Experienced Board: BKR's board of directors are considered experienced (5.9 years average tenure).

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Baker Hughes Management

Management criteria checks 1/4

Key information

Recent management updates

Baker Hughes Company Announces Executive Changes, Effective June 1, 2023

Baker Hughes Company Announces Resignation of Rod Christie as Advisor

Baker Hughes Company, Annual General Meeting, Jan 30, 2023

Baker Hughes Names Ganesh Ramaswamy as Executive Vice President of Industrial & Energy Technology

Baker Hughes Announces Chief Financial Officer Changes, Effective November 2, 2022

Greg Ebel Notifies the Baker Hughes Company Board of Directors of His Intention to Resign from the Board

Recent updates

Baker Hughes Company Announces Executive Changes, Effective June 1, 2023

Baker Hughes Company Declares Quarterly Cash Dividend, Payable on June 9, 2023

Baker Hughes Company Announces Resignation of Rod Christie as Advisor

First quarter 2023 earnings released: EPS: US$0.57 (vs US$0.077 in 1Q 2022)

Full year 2022 earnings released: US$0.61 loss per share (vs US$0.27 loss in FY 2021)

Baker Hughes Company, Annual General Meeting, Jan 30, 2023

Baker Hughes Unveils New Digital Solutions for More Intelligent Operations and Cleaner Energy

Baker Hughes Declares Quarterly Dividend, Payable on February 17, 2023

Baker Hughes Names Ganesh Ramaswamy as Executive Vice President of Industrial & Energy Technology

Baker Hughes Company to Report Q4, 2022 Results on Jan 23, 2023

Baker Hughes Company Declares Quarterly Dividend, Payable on November 18, 2022

Baker Hughes Announces Chief Financial Officer Changes, Effective November 2, 2022

Baker Hughes Company (NasdaqGS:BKR) completed the acquisition of Power Generation division from Brush Electrical Machines Ltd.

Greg Ebel Notifies the Baker Hughes Company Board of Directors of His Intention to Resign from the Board

Baker Hughes Company to Report Q3, 2022 Results on Oct 19, 2022

Baker Hughes Restructuring Business to Drive Profitability

Baker Hughes Company (NasdaqGS:BKR) agreed to acquire Power Generation division of Brush Electrical Machines Ltd. from One Equity Partners.

Local management team of Baker Hughes agreed to acquire Baker Hughes Oilfield Services business in Russia from Baker Hughes Company (NasdaqGS:BKR).

Baker Hughes Declares Cash Dividend for Class A Common Stock Payable on August 19, 2022

Baker Hughes Company (NasdaqGS:BKR) agreed to acquire AccessESP LLC.

Independent Director recently bought US$244k worth of stock

Second quarter 2022 earnings released: US$0.84 loss per share (vs US$0.084 loss in 2Q 2021)

Baker Hughes Company to Report Q2, 2022 Results on Jul 20, 2022

Baker Hughes Declares Quarterly Dividend, Payable on June 10, 2022

Baker Hughes Company (NasdaqGS:BKR) acquired Veros Systems, Inc.

Senior VP recently sold US$196k worth of stock

First quarter 2022 earnings released: EPS: US$0.077 (vs US$0.61 loss in 1Q 2021)

Baker Hughes Company (NasdaqGS:BKR) acquired Mosaic Materials, Inc.

Baker Hughes Company, Annual General Meeting, May 17, 2022

Insider recently sold US$583k worth of stock

Chief Financial Officer recently sold US$1.8m worth of stock

Senior VP recently sold US$198k worth of stock

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Senior VP recently sold US$255k worth of stock

Third quarter 2021 earnings released: EPS US$0.009 (vs US$0.25 loss in 3Q 2020)

Baker Hughes and C3 AI Deploy Enterprise AI Solutions at MEG Energy for Improved Efficiency of Thermal Production Operations

Second quarter 2021 earnings released: US$0.084 loss per share (vs US$0.32 loss in 2Q 2020)

Baker Hughes Company Delivers Remote Operations Solution in Support of Aramco’S Ongoing Digital Transformation

Baker Hughes Declares Cash Dividend on Class A Common Stock, Payable on June 4, 2021

First quarter 2021 earnings released: US$0.61 loss per share (vs US$15.64 loss in 1Q 2020)

Baker Hughes Company to Report Q1, 2021 Results on Apr 21, 2021

Baker Hughes and C3 AI Releases BHC3 Production Schedule Optimization Application for Demand Planning & Manufacturing Production Scheduling

Baker Hughes and Akastor ASA Announces Joint Venture Company to Deliver Global Offshore Drilling Solutions

Full year 2020 earnings released: US$14.73 loss per share (vs US$0.23 profit in FY 2019)

Revenue beats expectations

C3 AI and Baker Hughes to Provide Enterprise AI Solutions to Accelerate PETRONAS Digital Transformation Program

Baker Hughes Company (NYSE:BKR) agreed to acquire Arms Reliability Global Pty Ltd.

Shell, C3 AI, Baker Hughes, and Microsoft Announce Launch of Open AI Energy Initiative™, a Open Ecosystem of Artificial Intelligence Based Solutions for the Energy and Process Industries

Baker Hughes Company and Pao Novatek Partner to Develop Pioneering Lower Carbon Hydrogen Solution for Lng Trains

Revenue beats expectations

Full year 2020 earnings released: US$14.73 loss per share

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

Average Age