Lorenzo Simonelli
Positioned Baker Hughes as the world's leading LNG liquefaction equipment provider and built its industrial technology portfolio — capturing the energy transition as both threat and growth opportunity for a transformed oilfield services company.
Simonelli, who spent most of his career at GE, took the helm after GE merged its Oil & Gas division with Baker Hughes. He has since transformed Baker Hughes from a traditional oilfield services company into a diversified energy technology company with two main segments: Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET). The IET segment — which includes LNG liquefaction equipment, gas turbines for power generation and pipeline compression, and emerging clean energy technologies — has been the strategic focus of Simonelli's transformation. Baker Hughes is the world's leading provider of LNG liquefaction equipment, a critical position as global LNG trade expands rapidly. The company's gas turbines serve power generation and industrial applications worldwide. Simonelli's key decisions involve balancing investment between the mature but cash-generative OFSE business and the higher-growth IET segment, LNG equipment order capture, clean energy technology development, digital solutions expansion, and managing the cyclical nature of oil and gas capital spending.
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