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HOUSTON - Chart Industries Inc. (NYSE:GTLS) announced Monday that President and CEO Jill Evanko will step down from her current roles to accept an executive position at a privately owned company, effective in early 2026.
Evanko will continue as a senior advisor to Chart until the completion of the company's pending acquisition by Baker Hughes (NASDAQ:BKR), which is expected to close by mid-2026. The Board of Directors plans to appoint an interim CEO from within the organization. Baker Hughes, currently trading near its 52-week high at $48.73 with a market capitalization of $48.09 billion, has seen its stock price surge 30.25% over the past six months. According to InvestingPro data, the company appears slightly undervalued based on Fair Value estimates.
During her nine-year tenure, Evanko led Chart through significant growth, focusing on energy and industrial markets while expanding the company's project portfolio and process technologies. She oversaw Chart's expansion into carbon capture and data center markets, and led several transactions including the acquisition of Howden in 2023.
"As CEO, Jill spearheaded the strategic evolution of Chart's portfolio, successfully building a world-class process technology and solution offering across high-growth sectors," said Andrew Cichocki, Chairman of Chart's Board of Directors, in a press release statement.
The Baker Hughes transaction, which has already received shareholder approval and cleared the Hart-Scott-Rodino waiting period, remains on track for mid-2026 completion, subject to regulatory approvals and customary conditions. Analysts maintain a positive outlook on Baker Hughes, with nine analysts recently revising earnings expectations upward and a consensus price target suggesting 11% potential upside.
Chart Industries is a global manufacturer of process technologies and equipment for gas and liquid molecule handling across clean power, water, food, and industrial applications. The company operates 65 manufacturing locations and over 50 service centers worldwide. Baker Hughes, with a P/E ratio of 16.73 and an overall financial health score rated as "GOOD" by InvestingPro, has maintained dividend payments for 9 consecutive years and raised dividends for 4 consecutive years. Investors seeking comprehensive analysis can access the detailed Pro Research Report, available for Baker Hughes and 1,400+ other US equities through InvestingPro.
In other recent news, Chart Industries reported its third quarter 2025 financial results, revealing adjusted earnings per share of $2.78, which did not meet analyst expectations of $3.10. The company's revenue also fell short, coming in at $1.1 billion compared to the consensus estimate of $1.18 billion. Meanwhile, Baker Hughes has formed a strategic alliance with Alaska LNG to supply key equipment for a proposed liquefied natural gas project. This partnership includes supplying main refrigerant compressors and power generation equipment, along with a strategic investment in the project. Additionally, Baker Hughes announced an order from Bechtel Energy Inc. to provide primary liquefaction equipment for Train 5 at NextDecade's Rio Grande LNG facility in Texas. This equipment will add approximately 6 million tonnes per annum of LNG production capacity. Furthermore, U.S. energy firms, as reported by Baker Hughes, have increased their oil and natural gas rig count for the second consecutive week, reaching 549 rigs.
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