Houston-based oilfield services major Baker Hughes is simplifying its organizational structure and accelerating its strategic transformation by restructuring its four product companies to focus on two reporting business segments.
Effective October 1, the company will be formally restructured into Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET).
The move is expected to deliver at least $150m in cost savings and form the baseline for further margin improvement, Baker Hughes said.
Maria Claudia Borras will become executive vice president (EVP) of OFSE, while Rod Christie will be the EVP of the IET unit. Jim Apostolides will serve as senior vice president of enterprise operational excellence, a newly created role to “drive better coordination and alignment of key operational areas”.
