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GE's CEO Jeff Immelt retires earlier than expected, Flannery gets his job

GE said Immelt also retired as director and chairman of the board of directors of Baker Hughes, a GE company

Reuters 

US industrial conglomerate General Electric Co's chairman Jeff Immelt retired earlier-than-expected on Monday, with the company naming Chief Executive John Flannery as his replacement. Immelt, who was expected to retire by the end of this year, had resigned as GE's CEO in June amid amounting pressure from activist-investor Nelson Peltz's Trian Fund Management for operation changes. GE said Immelt also retired as director and chairman of the board of directors of Baker Hughes, a GE company . Baker Hughes' CEO Lorenzo Simonelli will succeed Immelt as chairman ...

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First Published: Tue, October 03 2017. 14:16 IST
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