Lorenzo Simonelli, president and CEO of Baker Hughes, a GE company (BHGE), has added chairman to his title, as expected, succeeding GE Chairman/CEO Jeff Immelt, who has retired from the BHGE board. BHGE board member J. Larry Nichols, chairman of Devon Energy Corp., also plans to resign from the board after serving on the Baker Hughes Inc. board for 16 years. With the two resignations, BHGE has reduced the size of its board to nine and named current GE-designee BHGE board member W. Geoffrey Beattie as the lead director. GE owns 62.5% of BHGE.