Baker Hughes 2004 Annual Report Download - page 6
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ChadC.DeatonjoinedBakerHughes
aschairmanoftheboardandchiefexecu-
tiveofficeronOctober25,2004.Asthe
newchairman,Mr.Deatonrecentlyshared
theseinsightsaboutthecompany,itspeo-
pleanditsstrategicdirection.
Peopleareourgreateststrength.For
25yearsIhadknownBakerHughesasa
respectedcompetitor.Still,whenIcame
aboard,Iwasparticularlyimpressedbythe
qualityofthepeopleatBHIandtheirhigh
levelofprofessionalism.Itisnocoinci-
dencethatthecompanyisnumberoneor
numbertwoinnearlyeveryproductline.
Thatdifferentiationisduetothestrength
ofitspeople.
BakerHughesbelievesinitsCore
Values.IalsoamimpressedathowBaker
HughesadherestoitsCoreValues.At
BakerHughes,theCoreValuesarenotjust
wordsonthewall.Clearly,thevalueshave
beenstressedandcommunicated.Aworld-
wideemployeesurveyshowedthatpeople
throughoutthecompanyknowandunder-
standthem.ThefirstCoreValue,Integrity,
hasalwaysbeenthecoreofmybusiness
philosophy,anditissomethingour
employeestakeseriously.
Thiscompanyhaspositioneditself
tomoveforward.TheStrategicFrame-
workisasolidgameplanthatsetsthe
rightcourseforBakerHughes.Itsobjec-
tivesandkeyinitiativeshavebeencommu-
nicatedthroughouttheorganization,and
thedivisionshavealignedtosupportits
goals.Seeingthis,Idon’twanttolose
momentum.Infact,I’dliketoaccelerate
someareasoftheFramework.
Ourgreatestopportunityisexpan-
sioningeographicmarketswherewe
areunder-represented.Theareaswith
themostpotentialareRussia,theMiddle
EastandWestAfrica.Webelievethat
Russiacouldbecometheworld’slargest
oilfieldservicemarket,soweintendto
bepatientandsteadyinRussiathrough
itsinevitableupsanddowns.
Wealsomustdevelopourrelation-
shipswiththeNationalOilCompanies
(NOCs).TheNOCscontrolabouttwo-
thirdsoftheworld’sundevelopedoil
reserves,andtheyareincreasinglytaking
directcontrolovertheirE&Poperations.
EachNOChasitsowncultureand
FirstImpressions
FromOurCEO
2BakerHughesIncorporated