HOUSTON, March 28 /PRNewswire-FirstCall/ -- Baker Hughes Incorporated(NYSE: BHI; EBS) announced today that Peter A. Ragauss, 48, has been appointedsenior vice president and chief financial officer for Baker Hughes effectiveApril 26, 2006.
Mr. Ragauss currently serves as segment controller of refining andmarketing for BP plc in London, a position he has held since 2003. Prior tohis current position he served as chief executive officer of Air BP and beforethat as assistant to the group chief executive of BP. Prior to joining BP in1998 he served as vice president of finance and portfolio management for AmocoEnergy International, vice president of finance for El Paso EnergyInternational and vice president of corporate development for Tenneco Energy.
Mr. Ragauss earned a Bachelor's degree in Mechanical Engineering in 1980from Michigan State University and a Master of Business Administration fromHarvard Business School in 1987.
Chad C. Deaton, Baker Hughes chairman and chief executive officer, said,"Peter Ragauss brings a strong background in financial and corporatemanagement as he joins the Baker Hughes team. He is an experienced financialofficer, responsible for external financial reporting, Sarbanes-Oxleycompliance, and management systems for BP's refining and marketing segment.Peter is a seasoned leader, having served as CEO of Air BP's globaloperations. He has also demonstrated his strategic planning skills havingserved as assistant to the group chief executive. I am looking forward toPeter joining our management team as we continue to advance Baker Hughes as aworld-class service company."
"Steve Finley has agreed to continue with Baker Hughes through the end ofApril serving as senior vice president -- finance and administration and chieffinancial officer until Peter Ragauss assumes those responsibilities on April26, 2006. I once again want to thank Steve for his leadership and dedicationto Baker Hughes."
Baker Hughes is a leading provider of drilling, formation evaluation,completion and production products and services to the worldwide oil and gasindustry.
NOT INTENDED FOR BENEFICIAL HOLDERS
Contact:
Gary R. Flaharty (713) 439-8039
H. Gene Shiels (713) 439-8822
SOURCE: Baker Hughes Incorporated
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