You are here: Home » International » News » Companies
Business Standard

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 

Jeff Immelt, Jeffrey Immelt
Jeff Immelt said last month he was stepping down as chairman and CEO of GE after a 16-yr tenure. Photo: Reuters

US industrial conglomerate Co's chairman 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 of the company's board.

W. Geoffrey Beattie was also appointed as lead independent director at Baker Hughes, GE said.

Beattie was CEO of the Woodbridge Co, the Thomson family company that controls news and financial information provider Thomson Reuters Corp .

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