Baker Hughes Company (BKR, Financial) has announced significant changes to its Board of Directors. On March 28, 2025, Lynn L. Elsenhans informed the company that she will not stand for re-election at the upcoming 2025 Annual Meeting of Shareholders. Ms. Elsenhans has been a valuable member of the Board since 2019 and has previously served on the boards of Baker Hughes Incorporated and Baker Hughes GE. She currently chairs the Governance & Corporate Responsibility Committee and is a member of the Human Capital and Compensation Committee. Her decision to step down is not due to any disagreement with the company, and she will continue her roles until May 1, 2025. The Board expressed gratitude for her contributions and wished her success in future endeavors.
In a strategic move, the Board has elected Ilham Kadri to join as a director, effective May 1, 2025. Dr. Kadri, aged 56, brings extensive leadership experience, having served as CEO of Syensqo S.A. since December 2023 following the separation of Solvay Group into two entities. Her previous roles include CEO of Solvay S.A. and Diversey, Inc. Dr. Kadri's impressive career spans various industries and continents, with leadership roles at Shell plc, UCB, Huntsman Corporation, Dow Chemical Company, and Sealed Air Corporation. She also serves as a director at A.O. Smith Corporation and L’Oréal S.A.
The Board has determined that Dr. Kadri is independent under Nasdaq's corporate governance requirements and qualifies as an "audit committee financial expert" and a "Non-Employee Director" under the Securities Exchange Act. She will serve on the Audit and Human Capital and Compensation Committees. Dr. Kadri's compensation will align with that of other non-employee directors, as disclosed in the company's Proxy Statement. There are no arrangements or related party transactions involving Dr. Kadri that require disclosure. She will enter into a standard indemnification agreement with Baker Hughes upon her appointment.
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