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General Electric CEO Jeff Immelt to retire, John Flannery to take over

Staff Writer | Fairfield, Ct., USA | June 13, 2017
Jeff ImmeltJune 13, 2017, Fairfield, Ct., USA - General Electric said CEO Jeff Immelt would step down and John Flannery, the head of GE Healthcare, would replace Immelt as CEO, effective August 1, 2017.
Mr. Immelt will remain chairman through his retirement on December 31, following which Mr. Flannery will take over as chairman.

Mr. Immelt has held several global leadership positions since coming to GE in 1982, including roles in GE's Plastics, Appliances, and Healthcare businesses.

In 1989 Mr. Immelt became an officer of GE and joined the GE Capital Board in 1997.

Mr. Immelt is a member of The American Academy of Arts & Sciences.

He earned a B.A. degree in applied mathematics from Dartmouth College in 1978 and an M.B.A. from Harvard University in 1982.

Mr. Flannery began his career at GE Capital in 1987 where he focused on evaluating risk for leveraged buy-outs.

In the 1990s, he was a leader in the corporate restructuring and workout group.

In 1997, Mr. Flannery moved to Argentina where he successfully led GE’s Equity business in Latin America and the overall GE Capital business for Argentina and Chile.

In 2002, he became the President & CEO of GE Equity and was asked to lead the business through a difficult cycle.

In 2005, he moved to Asia where he was responsible for the Asia Pacific region for GE Capital.

In 2009, he moved to India to lead the country for GE.

In 2013, he was tapped to lead business development at GE Corporate where he focused on capital allocation for the company and led the acquisition of Alstom, the largest industrial acquisition in the company’s history.

Mr. Flannery also worked on shrinking GE Capital, the Synchrony Financial IPO, and the disposition of GE Appliances.

Mr. Flannery is a graduate of Fairfield University and holds an MBA from the Wharton School at the University of Pennsylvania.