John Flannery named chairman and CEO of General Electric

Jun 19, 2017: General Electric (GE) has named John Flannery as the CEO of the company effective August 1, 2017 and Chairman and CEO effective January 1, 2018.

Jeff Immelt, the current 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. The leadership announcements are the result of a succession plan that has been run by the GE Board of Directors since 2011.

Jack Brennan, lead independent director for GE’s Board of Directors, said, “During this time of dynamic global markets and relentless focus on technology and operational excellence, there is no better person to lead GE than John Flannery. He brings unique experience and a strong skill set to the job. John has spent almost half of his career living outside of the United States and has led complex financial and industrial businesses all over the world, including running GE Healthcare, GE in India and the business development team for GE through the successful acquisition of Alstom. John has had a direct influence on the company’s direction, its financial health and its position as the world’s premier digital industrial company.”

Flannery is currently the head of the GE Healthcare division. He began his career by joining the company's financial arm, GE Capital, in 1987. Kieran Murphy will succeed Flannery as president and CEO of GE Healthcare, effective immediately. Murphy is currently president and CEO of GE Healthcare Life Sciences.

GE, which makes everything from aircraft engines to medical equipment, said in a press release that the changes are part of a succession plan that has been in the works for several years.