Baker Hughes Appointed New Company President

World's third oilfield services provider on Thursday said Stephen K. Ellison will be the new president of its Baker Atlas unit and a vice president of the company effective May 1.

Ellison, 48, was vice president of Baker Atlas of the Middle East and Asia Pacific divisions. He is replacing Paul Butero who left the company to join Inteq as president.

Shares of Baker Hughes fell 57 cents to $80.25 in aftermarket trading, after they rose $2.31, or 2.9 percent, to close at $80.82 on the New York Stock Exchange