GE has 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.
Mr. Flannery, 55, began his career at GE Capital in 1987 where he focused on evaluating risk for leveraged buy-outs.
Since joining GE Healthcare in 2014, Mr. Flannery has led the turnaround of the business, increasing organic revenue by 5% and margins by 100 bps in 2016.
Mr. Immelt’s vision has positioned GE for the future and greatly strengthened the GE culture.
