Baker Hughes Names Nancy Buese as Chief Financial Officer
Baker Hughes (NASDAQ: BKR) has appointed Nancy Buese as Chief Financial Officer, effective November 2, 2022. Buese brings over 30 years of experience, previously serving as CFO for Newmont Corporation and MarkWest Energy Partners. CEO Lorenzo Simonelli expressed confidence in Buese's ability to drive strategic transformation and enhance shareholder value. The current CFO, Brian Worrell, will transition to a strategic advisor role before departing in Q2 2023, following a successful tenure that included significant milestones such as the GE Oil & Gas merger and the COVID-19 pandemic.
- Appointment of Nancy Buese as CFO expected to drive strategic transformation.
- Buese's extensive experience in finance from reputable companies like Newmont and MarkWest.
- CEO expresses clear confidence in Buese's ability to enhance shareholder value.
- Transition may introduce short-term operational adjustments during the leadership change.
- Departure of Brian Worrell may create uncertainty among investors.
HOUSTON and LONDON, Oct. 19, 2022 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR) has announced Nancy Buese as Chief Financial Officer (CFO) effective November 2, 2022. Buese brings more than 30 years of financial and leadership experience to the role, previously serving as EVP & CFO of global mining company Newmont Corporation from 2016 until earlier this year.
“Nancy is a proven CFO and business leader, delivering impressive results throughout her career in the energy and mining sectors. She brings diversified and valued experience leading finance teams for public companies, and I am excited to welcome her to Baker Hughes,” said Lorenzo Simonelli, chairman & CEO of Baker Hughes. “Nancy will be a driving force in our strategic transformation to simplify our operations, improve execution, deliver strong financial performance, and increase value for our shareholders over the long-term.”
Prior to her role at Newmont, Buese spent more than a decade as EVP & CFO of MarkWest Energy Partners, a leader in gathering, processing, and transportation of hydrocarbons, as well as EVP & CFO of MPLX (a subsidiary of Marathon Petroleum) following MPLX’s acquisition of MarkWest. Buese began her career in public accounting, starting as an accountant for Arthur Andersen and rising to be a partner at Ernst & Young until 2003. She also has extensive Board experience, serving on the Board and chairing the audit committee for UMB Financial Corporation from 2009-2017. She has served on the Board of Williams Companies since 2018.
With Buese’s appointment, Brian Worrell, CFO of Baker Hughes, will move to a strategic advisor role on November 2 and will depart the company in the second quarter of 2023.
“I want to thank Brian personally and professionally for his many years of service to the company, especially during the past six years as our CFO,” said Simonelli. “He has shown exemplary leadership and built an incredibly strong finance function, ensuring Baker Hughes has remained a stable and leading company for our customers, shareholders and employees. Our entire team remains grateful for his leadership through many important milestones in our company’s history, including the 2017 merger with GE Oil & Gas, the COVID-19 pandemic, and our ESG progress. We wish Brian well on his future endeavors.”
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
Jud Bailey
+1 281-809-9088
investor.relations@bakerhughes.com
Media Relations
Thomas Millas
+1 713-879-2862
thomas.millas@bakerhughes.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/be0dce40-2657-4432-908b-a27d307a5064
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