Baker Hughes restructures into two segments, expects $150M cost savings; Saunders departs

Baker Hughes Co

Two new segments: Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET), effective Oct 1.
Expects at least $150 million in cost reductions to enhance profitability and shareholder value.
Neil Saunders departing; transition duties to other management personnel.
Maria Claudia Borras leads OFSE, Rod Christie leads IET; Jim Apostolides in new operational excellence role.

item 5.02 item 7.01 item 9.01

Executive movements

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Departed

Neil Saunders

Other Named Officer

BKR · Baker Hughes Co

Filed: September 6, 2022, 7:59 PM ET

In connection with today’s announcement of Baker Hughes Company’s (the “Company”) restructuring and simplifying of its organizational structure, Neil Saunders will be departing the Company.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.75

Neil Saunders departed as other_named_officer at Baker Hughes Co.

Action: departing

Exact text from the filing

In connection with today’s announcement of Baker Hughes Company’s (the “Company”) restructuring and simplifying of its organizational structure, Neil Saunders will be departing the Company.

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Baker Hughes Co filing history →

Source: SEC EDGAR

accession 0001701605-22-000129

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