Baker Hughes name change becomes official

October 17, 2019

Baker Hughes, General Electric

Baker Hughes has officially dropped GE from its name.

The Houston oilfield service company announced on Thursday morning that it has officially changed its name to the Baker Hughes Company. The company’s stock will begin trading on the New York Stock Exchange under the stock ticker symbol BKR on Friday morning

Baker Hughes merged with GE Oil & Gas in July 2017 and was relaunched became known as Baker Hughes, a GE Company. The merged company’s stock was traded under the stock ticker symbol BHGE.

https://www.chron.com/business/energy/article/Baker-Hughes-name-change-becomes-official-14541568.php?cmpid=ffcp#photo-18397162-oag360 — Source: Houston Chronicle Michael Wyke / Contributor

In a September decision, Boston industrial conglomerate General Electric reduced its ownership of Baker Hughes to 36.8 percent allowing the company to become independent again.

The name change comes less than two weeks after Baker Hughes rebranded itself as an energy technology company and rolled out a new logo and look.

Using two green arrows merged into a geometrical shape known as a mobius, the new logo symbolizes the merger of the companies now working as one but is also a nod to the company’s 2050 net-zero carbon goal and technology designed for customers to reduce their emissions.

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With roots in Texas going back to 1907, Baker Hughes now employs more than 64,000 people in 120 nations.

The company reported a $195 million profit on nearly $23 billion of revenue during 2018.