Baker Hughes Inc. Chairman Chad Deaton said he is retiring effective April 25. President and CEO Martin Craighead is to assume the chairman’s role in addition to his current responsibilities, the board announced. Deaton joined the oilfield services company in 2004 and served as chair and CEO until January 2012, when he became executive chairman (see Daily GPI, Jan. 25, 2012). Craighead, who began working at Baker in 1986, was appointed COO in 2009 and president in 2010. “I am confident that with Martin, Baker Hughes has the optimal leadership for the future,” Deaton said. The Houston-based company works in 80 countries and has more than 58,000 employees worldwide.

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