US energy services firm Baker Hughes has appointed Ahmed Moghall as its chief financial officer (CFO).
Moghal currently serves as CFO of the company’s industrial & energy technology (IET) business.
Prior to IET, Moghal held senior positions in various business and corporate roles.
Baker Hughes said in a statement that he succeeds Nancy Buese, who, by mutual agreement with the company, ceased to serve as CFO effective Monday.
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,” he said.
“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,” Simonelli said.
Baker Hughes booked almost $2.1 billion of LNG equipment orders in 2024.
The firm booked a record $5.6 billion of LNG equipment orders in 2023 and $3.5 billion in 2022.
Simonelli recently said Baker Hughes expects more than 80 mtpa of LNG FIDs in 2025 and 2026, following a record year of offtake contracting last year.
