Baker Hughes Appoints Ahmed Moghal as New Chief Financial Officer

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Ahmed Moghal brings extensive experience to Baker Hughes' financial leadership / Reuters


Baker Hughes has officially named Ahmed Moghal as its Chief Financial Officer (CFO), effective immediately, marking a significant shift in the company's financial leadership. Moghal takes over from Nancy Buese, who will transition to a strategic advisory role prior to her departure from the firm on April 30, 2025. With this appointment, Baker Hughes reinforces its commitment to maintaining strong financial operations and strategic initiatives during a pivotal period for the company.

Ahmed Moghal joins the executive team with more than two decades of experience in finance and operations, having begun his professional journey at General Electric (GE) within the Financial Management Program. He later advanced to the Corporate Audit Staff, gaining valuable insights and expertise in financial oversight. Since joining Baker Hughes in 2017, following the merger with GE Oil & Gas, Moghal has occupied several senior leadership positions, most recently serving as the Senior Vice President and CFO of the Industrial and Energy Technology (IET) business. His extensive background within the organization equips him with a deep understanding of Baker Hughes' operations and strategic goals.

As the new CFO, Moghal will be responsible for steering the company's financial strategies and enhancing its operational efficiency. Baker Hughes has reiterated its financial outlook for 2025, forecasting robust growth in earnings before interest, taxes, depreciation, and amortization (EBITDA). The company aims to achieve a 20% EBITDA margin in its Oilfield Services and Equipment (OFSE) segment by 2025, with the IET segment projected to reach the same target in 2026. Furthermore, Baker Hughes remains dedicated to returning 60-80% of its free cash flow to shareholders, reflecting its commitment to shareholder value.

Lorenzo Simonelli, the Chairman and CEO of Baker Hughes, expressed strong confidence in Moghal's capabilities to lead the company's financial transformation. He emphasized Moghal's in-depth industry knowledge, proven track record of delivering strong financial performance, and ability to foster collaboration across various teams within the organization. This strategic leadership transition is poised to further enhance Baker Hughes' position in the competitive oilfield technology sector, ensuring continued growth and stability in the years ahead.

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