GENERAL ELECTRIC COMPANY

(GE)
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Delayed Nyse  -  04:00 2022-08-17 pm EDT
79.92 USD   -1.42%
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GE Names Chairman, CEO Culp to Added GE Aviation CEO Post

06/27/2022 | 09:39am EDT

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

06-27-22 0938ET

Stocks mentioned in the article
ChangeLast1st jan.
GENERAL ELECTRIC COMPANY -1.42% 79.92 Delayed Quote.-15.40%
OTIS WORLDWIDE CORPORATION -0.91% 80.58 Delayed Quote.-7.45%
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Analyst Recommendations on GENERAL ELECTRIC COMPANY
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Financials (USD)
Sales 2022 75 056 M - -
Net income 2022 489 M - -
Net Debt 2022 13 451 M - -
P/E ratio 2022 905x
Yield 2022 0,49%
Capitalization 87 637 M 87 637 M -
EV / Sales 2022 1,35x
EV / Sales 2023 1,21x
Nbr of Employees 168 000
Free-Float 74,1%
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Technical analysis trends GENERAL ELECTRIC COMPANY
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Mean consensus BUY
Number of Analysts 21
Last Close Price 79,92 $
Average target price 88,56 $
Spread / Average Target 10,8%
EPS Revisions
Managers and Directors
H. Lawrence Culp Chairman & Chief Executive Officer
Carolina Dybeck-Happe Chief Financial Officer & Senior Vice President
Victor Abate Chief Technology Officer & Senior Vice President
Nancy Anderson Chief Information Officer & Vice President
Francisco D'Souza Independent Director
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