Lorenzo Simonelli (business manager)
Lorenzo Simonelli | |
|---|---|
| Born | Tuscany, Italy |
| Alma mater | Cardiff University (Bachelor's degree in Business and Economics) |
| Occupation | Business executive |
| Years active | 1994–present |
| Known for | Chairman, President, and CEO of Baker Hughes |
Lorenzo Simonelli serves as the Chairman, President, and Chief Executive Officer of Baker Hughes, a prominent company specializing in energy technology.
Early life and education
Originating from Tuscany, Italy, Simonelli's family operates a vineyard that produces both wine and olive oil. At the age of nine, he moved to London, where he attended Highgate School.
He holds a Bachelor's degree in Business and Economics from Cardiff University. In 2016, the University of Florence awarded him an honorary master's degree in Chemical Sciences in recognition of his leadership in advancing chemical research with significant technological applications.
Career
Simonelli launched his professional journey in International and Corporate Finance at Mitsubishi Bank. Guided by Paolo Fresco, former Vice Chairman of GE and chairman of Fiat, he entered GE's Financial Management Program in 1994.
By 1997, he was part of GE's Corporate Audit Staff, undertaking roles across Asia, Europe, and the United States with a focus on finance and process optimization. In 2001, he was appointed executive audit manager for GE's European Industrial Businesses. The following year, Simonelli became financial planning and analysis manager for Consumer Products and progressed to CFO Americas for Consumer & Industrial by 2004. In 2005, he took on the role of general manager overseeing Product Management for Appliances, Lighting, Electrical Distribution, and Motors. His career advanced further when he was named President & CEO for GE Consumer and Industrial EMEA in 2007.
In 2008, Simonelli became the youngest division leader at GE and was the first non-American to head GE Transportation. He was promoted to president of GE's Oil and Gas division in 2013. This division later merged with Baker Hughes Inc. in 2017 to create Baker Hughes, a GE Company (NYSE:BHGE). Simonelli assumed the role of CEO for this combined entity and continued as CEO of the independent Baker Hughes Company (NYSE:BKR) after GE completed its divestiture in 2019.
Awards and recognition
Simonelli appeared on Fortune’s Forty under Forty list in both 2009 and 2010. He received the Petroleum Economist’s CEO of the Year award in 2019 and was acknowledged by ALLY’s Energy Voice of 2020 as a leading figure in the Energy Transition sector.
Personal life
He is married and currently resides in Houston, Texas.