HOUSTON – Baker Hughes, an energy technology company, was again named to the Fortune’s Modern Board 25, a list of the most innovative boards of directors among S&P 500 companies. This year, Baker Hughes comes in at No. 5, up one spot from 2022.
Fortune collaborated with the Diligent Institute, the research arm and think tank of the global corporate-governance software company Diligent, to develop the ranking — based on criteria that include the expertise, independence, diversity, and tenure of board membership. Using information gathered by Diligent and ESG data from Refinitiv to quantify board success across several dimensions, the ranking measures board independence, sustainability, diversity, financial performance and more.
"We are proud to once again appear on Fortune’s Modern Board 25 list, a testament to the breadth and strength of our Board’s expertise. Strong governance is fundamental to our ability to grow sustainably as we transform our company and industry throughout the energy transition,” said Baker Hughes Chairman and CEO Lorenzo Simonelli. “I thank our Board and shareholders for their unwavering commitment to and support of our strategy as we take energy forward.”