- General Electric Co said CEO Jeff Immelt would step down, capping a 16-year term that included steering the conglomerate through the financial crisis but saw its shares losing nearly a third of their value on worries about the company's growth.
General Electric names John Flannery Chairman and CEO; Jeff Immelt to retire at the end of the year : The co announced that John Flannery, current President and CEO of GE Healthcare, has been named CEO of the company by the GE Board of Directors effective August 1, 2017 and Chairman and CEO effective January 1, 2018. Jeff Immelt, Chairman and CEO, will remain Chairman of the Board through his retirement from the company on December 31, 2017. In addition, Jeff Bornstein, current CFO, has also been promoted to Vice Chair of GE. Today's leadership announcements are the result of a succession plan that has been run by the GE Board of Directors since 2011. The co says its 2017 framework remains unchanged.
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