Baker Hughes Appoints Ahmed Moghal Chief Financial Officer
Baker Hughes (NASDAQ: BKR) has appointed Ahmed Moghal as its new Chief Financial Officer, effective immediately. Moghal, who currently serves as CFO of the Industrial & Energy Technology (IET) business, succeeds Nancy Buese. The change comes as Baker Hughes progresses in its strategic transformation, having achieved record results last year.
The company reaffirmed its 2025 outlook, projecting solid EBITDA growth, targeting 20% EBITDA margin for OFSE segment in 2025 and IET segment in 2026. Baker Hughes remains committed to returning 60-80% of free cash flow to shareholders.
Moghal brings over two decades of experience and has been with Baker Hughes since 2017, starting after the merger with GE Oil & Gas. Buese will transition to a strategic adviser role before departing on April 30, 2025.
Baker Hughes (NASDAQ: BKR) ha nominato Ahmed Moghal come nuovo Chief Financial Officer, con effetto immediato. Moghal, attualmente CFO del settore Industrial & Energy Technology (IET), succede a Nancy Buese. Questo cambiamento avviene mentre Baker Hughes prosegue nella sua trasformazione strategica, avendo raggiunto risultati record lo scorso anno.
L'azienda ha confermato le sue previsioni per il 2025, prevedendo una solida crescita dell'EBITDA, puntando a un margine EBITDA del 20% per il segmento OFSE nel 2025 e per il segmento IET nel 2026. Baker Hughes rimane impegnata a restituire il 60-80% del flusso di cassa libero agli azionisti.
Moghal porta con sé oltre due decenni di esperienza ed è con Baker Hughes dal 2017, iniziando dopo la fusione con GE Oil & Gas. Buese passerà a un ruolo di consulente strategico prima di lasciare l'azienda il 30 aprile 2025.
Baker Hughes (NASDAQ: BKR) ha nombrado a Ahmed Moghal como su nuevo Director Financiero, con efecto inmediato. Moghal, quien actualmente se desempeña como CFO del negocio de Tecnología Industrial y Energía (IET), sucederá a Nancy Buese. Este cambio se produce mientras Baker Hughes avanza en su transformación estratégica, habiendo logrado resultados récord el año pasado.
La compañía reafirmó su perspectiva para 2025, proyectando un sólido crecimiento del EBITDA, con un objetivo de margen EBITDA del 20% para el segmento OFSE en 2025 y para el segmento IET en 2026. Baker Hughes sigue comprometida a devolver del 60 al 80% del flujo de caja libre a los accionistas.
Moghal aporta más de dos décadas de experiencia y ha estado con Baker Hughes desde 2017, comenzando después de la fusión con GE Oil & Gas. Buese pasará a un rol de asesor estratégico antes de partir el 30 de abril de 2025.
베이커 휴스 (NASDAQ: BKR)가 아흐메드 모갈을 새로운 최고 재무 책임자로 즉시 임명했습니다. 모갈은 현재 산업 및 에너지 기술(IET) 사업의 CFO로 재직 중이며, 낸시 부에세를 이어받습니다. 이번 변화는 베이커 휴스가 전략적 변화를 진행하면서 작년 기록적인 결과를 달성한 가운데 이루어졌습니다.
회사는 2025년 전망을 재확인하며, 견고한 EBITDA 성장을 예상하고 OFSE 부문에서 2025년 20% EBITDA 마진을 목표로 하며, IET 부문은 2026년을 목표로 하고 있습니다. 베이커 휴스는 자유 현금 흐름의 60-80%를 주주에게 환원하겠다고 약속했습니다.
모갈은 20년 이상의 경험을 가지고 있으며, 2017년 GE Oil & Gas와의 합병 이후 베이커 휴스에 합류했습니다. 부에세는 2025년 4월 30일에 회사를 떠나기 전에 전략 고문 역할로 전환할 것입니다.
Baker Hughes (NASDAQ: BKR) a nommé Ahmed Moghal comme nouveau directeur financier, avec effet immédiat. Moghal, qui occupe actuellement le poste de CFO de la division Technologie industrielle et énergétique (IET), succède à Nancy Buese. Ce changement intervient alors que Baker Hughes progresse dans sa transformation stratégique, ayant réalisé des résultats records l'année dernière.
L'entreprise a réaffirmé ses prévisions pour 2025, projetant une solide croissance de l'EBITDA, visant une marge EBITDA de 20% pour le segment OFSE en 2025 et pour le segment IET en 2026. Baker Hughes reste engagée à restituer 60 à 80 % de son flux de trésorerie libre aux actionnaires.
Moghal apporte plus de deux décennies d'expérience et est avec Baker Hughes depuis 2017, ayant commencé après la fusion avec GE Oil & Gas. Buese passera à un rôle de conseillère stratégique avant de quitter l'entreprise le 30 avril 2025.
Baker Hughes (NASDAQ: BKR) hat Ahmed Moghal zu seinem neuen Finanzvorstand ernannt, mit sofortiger Wirkung. Moghal, der derzeit als CFO der Industrial & Energy Technology (IET) tätig ist, tritt die Nachfolge von Nancy Buese an. Diese Veränderung erfolgt, während Baker Hughes in seiner strategischen Transformation voranschreitet und im vergangenen Jahr Rekordergebnisse erzielt hat.
Das Unternehmen bestätigte seinen Ausblick für 2025, mit einer soliden EBITDA-Wachstumsprognose und einem Ziel von 20% EBITDA-Marge für den OFSE-Sektor im Jahr 2025 und den IET-Sektor im Jahr 2026. Baker Hughes bleibt verpflichtet, 60-80% des freien Cashflows an die Aktionäre zurückzugeben.
Moghal bringt über zwei Jahrzehnte Erfahrung mit und ist seit 2017 bei Baker Hughes, nachdem er nach der Fusion mit GE Oil & Gas begonnen hat. Buese wird vor ihrem Ausscheiden am 30. April 2025 in eine Rolle als strategische Beraterin wechseln.
- Record financial results achieved in previous year
- Commitment to return 60-80% of free cash flow to shareholders
- Targeting 20% EBITDA margin for OFSE (2025) and IET (2026) segments
- New CFO brings over 20 years of industry experience
- Unexpected departure of current CFO Nancy Buese
- Experienced Baker Hughes finance leader will play key role in driving next phase of strategic transformation and growth
HOUSTON and LONDON, Feb. 24, 2025 (GLOBE NEWSWIRE) -- Baker Hughes Company (NASDAQ: BKR) (“Baker Hughes” or the “Company”) on Monday announced that Ahmed Moghal, a highly experienced finance leader who currently serves as chief financial officer (CFO) of our Industrial & Energy Technology (IET) business, has been appointed CFO of the Company, effective immediately. Prior to IET, Moghal held senior positions in various business and corporate roles. In this role, he succeeds Nancy Buese, who, by mutual agreement with the Company, ceased to serve as CFO effective today.
Lorenzo Simonelli, Baker Hughes chairman and chief executive officer, said, “The news we are announcing today reflects the substantial progress Baker Hughes has made in executing our strategic transformation. Reflecting on the financial successes achieved during Horizon 1, we drove record results last year while taking key actions across the Company to significantly expand margins. As we progress into the next horizon, our focus remains on driving profitable growth across the Company as we further exploit our versatile IET portfolio, leverage growth across the natural gas and LNG value chain, scale our new energy and digital businesses, and drive enhanced growth in mature assets solutions.”
He continued, “As we embark on this next phase of growth, it is crucial to have a CFO with deep-domain knowledge across both business segments, a track record of fostering collaboration and strong financial performance, and a comprehensive understanding of our growth strategy. As part of his previous roles in Baker Hughes, and as well as currently leading free cash flow efforts across the Company, Moghal has developed unique insights into our business and broad portfolio that will ensure we efficiently allocate capital to drive profitable growth while remaining focused on continuous margin improvement. We are confident he is the right person to help us deliver on our financial objectives and support a culture of innovation and a growth mindset across the Company.”
The Company reaffirmed its first-quarter and full-year 2025 outlook shared during its 2024 fourth-quarter and full-year earnings conference call on Jan. 31, 2025. This includes projecting another solid year of EBITDA growth, achieving a
With Moghal’s appointment, Buese will move to a strategic adviser role and will depart the Company on April 30, 2025.
Simonelli added, “We are grateful to Nancy for the important role she played in executing on key pillars of the first phase of our transformation, including driving operational efficiency and achieving cost reduction objectives to deliver enhanced margin growth and shareholder returns. We wish her all the best in her future endeavors.”
Moghal has served as senior vice president & CFO of the Industrial and Energy Technology business of Baker Hughes since 2023. Prior to this role, he was appointed as the financial planning & analysis leader at the time of the merger of Baker Hughes and GE Oil & Gas in 2017. In his more than two decades of experience, Moghal has worked in several industries globally, driving performance across multiple business models and cycles. He started his career in GE in the Financial Management Program and subsequently Corporate Audit Staff.
About Baker Hughes:
Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward - making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.
For more information, please contact:
Investor Relations
Chase Mulvehill
+1 346-297-2561
investor.relations@bakerhughes.com
Media Relations
Adrienne M. Lynch
+1 713-906-8407
adrienne.lynch@bakerhughes.com
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