Baker Hughes 2009 Annual Report Download - page 64

54 Baker Hughes Incorporated
The Board endorses and supports the
Company’s Core Values and Keys for Success:
Core Values
Integrity:
We believe integrity is the foundation of our individual
and corporate actions that drives an organization of which
we are proud.
• We are a responsible corporate citizen committed to
the health and safety of people, protection of the environ-
ment, and compliance with laws, regulations, and com-
pany policies.
• We are honest, trustworthy, respectful and ethical in
our actions.
• We honor our commitments.
• We are accountable for our actions, successes and failures.
Teamwork:
We believe teamwork leverages our individual strengths.
• We are committed to common goals.
• We expect everyone to actively participate on the BHI team.
• We openly communicate up, down, and across
the organization.
• We value the diversity of our workforce.
• We willingly share our resources.
Performance:
We believe performance excellence will drive the results
that differentiate us from our competitors.
• We focus on what is important.
• We establish and communicate clear expectations.
• We relentlessly pursue success.
• We strive for flawless execution.
• We work hard, celebrate our successes and learn from
our failures.
• We continuously look for new ways to improve our
products, services and processes.
Learning:
We believe a learning environment is the way to achieve
the full potential of each individual and the company.
• We expect development throughout each individual’s career
by a combination of individual and company commitment.
• We learn from sharing past decisions and actions, both
good and bad, to continuously improve performance.
• We improve by benchmarking and adopting best practices.
Keys to Success
People contributing at their full potential.
Everyone can make a difference.
• We understand our priorities and performance goals.
• We drive to do our part every day.
• We support new ideas and take appropriate risks.
• We take action to find and correct problems.
• We commend each other on a job well done.
Delivering unmatched value to our customers.
• We make it easy for customers to do business with us.
• We listen to our customers and understand their needs.
• We plan ahead to deliver innovative, cost-effective solutions.
• We are dedicated to safe, flawless execution and top
quality results.
Being cost efficient in everything we do.
• We maintain a competitive cost structure for the long-term.
• We utilize shared services to control cost for the enterprise.
• We seek the best value for Baker Hughes in our relation-
ships with suppliers.
• We ruthlessly eliminate waste without compromising safety
or quality.
Employing our resources effectively.
• We assign our people where they can make the biggest
contribution.
• We allocate our investments to leverage the best oppor-
tunities for Baker Hughes.
• We handle company assets as if they were our own.
• We manage our balance sheet to enhance return
on investment.
EXHIBIT A
BAKER HUGHES INCORPORATED GUIDELINES
FOR MEMBERSHIP ON THE BOARD OF DIRECTORS
(As Amended October 23, 2008)
These Guidelines set forth the policies of the Board of
Directors (“Board”) of Baker Hughes Incorporated (“Company”)
regarding Board membership. These Guidelines shall be imple-
mented by the Governance Committee of the Board with such
modifications as it deems appropriate. The Governance Com-
mittee will consider candidates based upon:
• The size and existing composition of the Board
• The number and qualifications of candidates
• The benefit of continuity on the Board
• The relevance of the candidate’s background and experience
to current and foreseeable business of the Company.
1. Criteria for Selection
In filling director vacancies on the Board, the Governance
Committee will strive to:
A) Recommend candidates for director positions who will help
create a collective membership on the Board with varied
experience and perspective and who:
i) Have demonstrated leadership, and significant experi-
ence in an area of endeavor such as business, finance,
law, public service, banking or academia;
ii) Comprehend the role of a public company director,
particularly the fiduciary obligations owed to the
Company and its stockholders;
iii) Have relevant expertise and experience, and are able to
offer advice and guidance based upon that expertise;