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Jeff Immelt to retire from GE, John Flannery appointed new CEO

Jeff Immelt has been credited with steering the company through the financial crisis

Reuters 

General Electric Co said Jeff Immelt would retire as chief executive officer (CEO) and would be replaced by John Flannery, the head of GE Healthcare, ending a years-long succession plan. Immelt, 61, will remain chairman through his retirement on December 31. Flannery will take over as CEO, effective August 1 and chairman following Immelt's departure. The company's shares were up 3.6 per cent in premarket trading. Jeff Immelt, who took over from Jack Welch in 2001, has been credited with steering the company through the financial crisis, which nearly toppled the ...

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First Published: Mon, June 12 2017. 17:47 IST
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