108: Leading and Adapting to Change with Lorenzo Simonelli, CEO of Baker Hughes (From 2022 archive)

Last year, Andrea interviewed Lorenzo Simonelli, Chairman and CEO of Baker Hughes, an energy technology company, in one of his best episodes of 2022. They discussed the exciting energy transition happening in the industry and Lorenzo's perspective on navigating this change as a leader. Lorenzo stressed the need to pivot quickly, fail fast, and learn in order to adapt to constant change. He shared insights on building diverse teams, focusing on culture, effective communication, and empowering others. Lorenzo also advised aspiring leaders on self-awareness, taking feedback, and managing ambiguity.

KEY TAKEAWAYS

• Energy is going through an exciting transition period that requires collaboration between stakeholders.
• Having a clear and easy-to-communicate strategy is key, but changing behaviours and culture is harder.
• Leaders must role model desired behaviours and make bold decisions to mobilise change.
• Pivoting quickly and failing fast is critical to adapting to constant change.
• Quiet, focused time is important for leaders to think strategically.
• Surround yourself with a diverse team willing to challenge you.

BEST MOMENTS

"It's a great time to be in energy. There is a fundamental tectonic shift and transformation occurring."

"If you're going to be a good leader today, change is constant and actually looking at ambiguity as a strength."

"The role of being a leader is more challenging today because of all the externalities that are happening."

"No matter how confident you are...you will need a team that is with you, supporting you and aligned with you."

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ABOUT THE HOST

My name is Andrea Petrone. I'm a Human Performance and Leadership Advisor, Executive Coach and International Speaker. I help leaders and their teams to change their mindsets and master their leadership capabilities so they can achieve extraordinary performance. I've been in the corporate world for more than 20 years working globally - in 6 countries and 3 continents - for medium-large companies.

Our guest this week:

Lorenzo Simonelli is Chairman and CEO of Baker Hughes (NASDAQ:BKR). Baker
Hughes is an energy technology company that combines innovation, expertise and
scale to provide solutions for energy and industrial customers worldwide.
Simonelli was named Chairman of the Board in October 2017 and has been
President and CEO since the Company’s creation in 2017, where he oversaw the
successful merger of GE Oil & Gas with Baker Hughes Inc. Since 2013, he served as
President and CEO of GE Oil & Gas.
Previously, Simonelli served as President and CEO of GE Transportation, a global
transportation leader in the rail, mining, marine and energy storage industries.
During his five-year tenure, he expanded and diversified GE Transportation by
focusing on advanced technology manufacturing, intelligent control systems, and
a diverse approach to new propulsion solutions.
He has also served as CFO Americas for GE Consumer & Industrial, as well as
General Manager, Product Management for GE Appliances, Lighting, Electrical
Distribution and Motors.
Simonelli joined GE’s Financial Management Program in 1994, where he worked on
assignments in GE International, GE Shared Services, GE Oil & Gas, and
Consolidated Financial Insurance.
He currently serves on the Board of Iveco Group N.V. He served on the Board of
C3.ai, Inc. from 2020-2021 and on the Board of CNH Industrial N.V. from 2019-2021.
Originally from Tuscany, Italy, Simonelli is a Business & Economics Graduate from
Cardiff University in South Wales. He is married and resides in Houston.