Who Founded Baker Hughes?

Martin Craighead joined Baker Hughes in 1986, became president in July 2010, chief executive in January 2012 and chairman in April 2013. He agreed the $34.6 billion sale to Halliburton announced in November 2014, led the company through the 2014 to 2016 oil price collapse and the antitrust fight that ended when the deal was abandoned on May 1, 2016 and Halliburton paid a $3.5 billion termination fee. He then negotiated the combination with GE Oil and Gas and served as vice chairman of Baker Hughes, a GE company, until 2019.

Chad C. Deaton joined Baker Hughes from Hanover Compressor and served as chairman, president and chief executive from October 2004 until January 2012, then as executive chairman from 2012 to 2013. He sold the 30% WesternGeco stake to Schlumberger for $2.4 billion in 2006, concentrating capital on drilling, evaluation and completion technology, and bought BJ Services for $5.5 billion in a deal that closed in April 2010 and added pressure pumping and cementing.

Michael E. Wiley, previously president and chief operating officer of Atlantic Richfield, became president, chairman and chief executive of Baker Hughes effective August 14, 2000. He was recruited to restore confidence after the Lukens departure and reviewed the division portfolio, weighing fixes and sales of underperforming segments. He retired in 2004 and handed over to Chad C. Deaton on October 25, 2004.

Max L. Lukens joined Baker Hughes in 1981 and served as chairman, president and chief executive from 1997 until January 2000. His tenure covered the $5.5 billion Western Atlas merger agreed in May 1998, which added seismic acquisition and the Baker Atlas wireline business. He resigned in January 2000 after weak share performance and an earnings restatement, and director Joe B. Foster served as interim chairman, president and chief executive until August 2000.

James D. Woods was chief executive of Baker International and became chief executive of Baker Hughes Incorporated when the merger with Hughes Tool was formally completed in early April 1987. He had sued Hughes Tool in March 1987 to force it back to the table after it walked away from the deal, and he agreed to sell Baker units, including the submersible pump and tricone bit divisions, to satisfy Justice Department antitrust objections. He moved the executive staff from Orange, California, to Houston in February 1987 and began cutting costs immediately after closing, with 850 layoffs and voluntary resignations announced by June 1987.