Martin Craighead has assumed the role of Baker Hughes President and Chief Executive Officer. Craighead will build upon the successful seven-year tenure of Chad Deaton, who will remain Chairman of the Board of Directors.

Baker Hughes Incorporated announced adjusted net income (a non-GAAP measure) for the third quarter 2011 of $518 million, or $1.18 per diluted share.

Baker Hughes announced the opening of a new research and technology center in Rio de Janeiro designed to enable the development of technologies and solutions to unlock the full potential of deep water and pre-salt reservoirs.

Baker Hughes and Verdande Technology AS announced that a subsidiary of Baker Hughes has acquired a minority equity stake in Verdande Energy AS, a subsidiary of Verdande Technology AS, and will become a user of Verdande Technology s case-based reasoning (CBR) software platform for oil and gas applications.

Baker Hughes announced that Darrell C. Howard has joined he company as President of the Integrated Operations organization. Howard joins Baker Hughes from VICO Indonesia, where he served as Vice President, Technical Support for the BP-Eni joint venture.

Baker Hughes Incorporated President and Chief Operating Officer Martin Craighead has been appointed to the Baker Hughes Board of Directors, effective August 1, 2011.

Baker Hughes has introduced a wellbore clean-up and displacement system designed to improve efficiency and reduce operational risks in high-cost environments such as deepwater applications; horizontal, extended-reach, and deviated wells; deep wells; and wells with high dogleg severity.

Baker Hughes Incorporated announced that Adam B. Anderson will be appointed Baker Hughes vice president, investor relations effective July 1, 2011. In this position, he will be located in Houston and will report to Peter A. Ragauss, senior vice president and chief financial officer.

Baker Hughes Incorporated approved the transition of Chad C. Deaton, Chairman of the Board and Chief Executive Officer, to the new role of Executive Chairman beginning January 1, 2012. At that time Martin S. Craighead will assume the position of Chief Executive Officer in addition to his role as President of Baker Hughes.

Baker Hughes Incorporated announced that Alexander Peng, 39, will be appointed Baker Hughes vice president tax effective May 1, 2011.