GE Names Chairman, CEO Culp to Added GE Aviation CEO Post
27 Juni 2022 - 3:53PM
Dow Jones News
By Colin Kellaher
General Electric Co. on Monday said H. Lawrence Culp Jr., the
architect of the conglomerate's plans to split into three public
companies, is taking on the additional post of chief executive
officer of GE Aviation.
Mr. Culp remains chairman and CEO of Boston-based GE, which in
November announced plans to spin off its healthcare and power
businesses while retaining its aviation operations. The breakup of
the more than century-old company is the culmination of a yearslong
process of shrinking GE after Mr. Culp took the helm in late 2018
and tried to stabilize GE's operations by selling off business
units and paying down the company's debt load.
GE said John Slattery, who had been president and CEO of GE
Aviation, will now serve as executive vice president and chief
commercial officer of the business, while Russell Stokes, who had
been president and CEO of GE Aviation services, becomes president
and CEO of commercial engines and services, taking on expanded
oversight of Aviation's largest segment.
GE also said it named Rahul Ghai chief financial officer of GE
Aviation, plucking the executive from Otis Worldwide Corp., which
announced his pending departure earlier Monday.
GE said Shane Wright, who currently serves and GE Aviation's
chief financial and operating officer, plans to retire after more
than three decades with the company.
GE previously said it plans to complete the spinoffs of its
healthcare business in early 2023 and of its renewable energy and
power company in early 2024.
-Thomas Gryta contributed to this article.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
June 27, 2022 09:38 ET (13:38 GMT)
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