Martedì, 23 Gennaio, 2018

Immelt to step down at GE, Flannery to take CEO post

Sveva Terracina | 18 Giugno, 2017, 04:03

John Flannery has been named CEO of General Electric, effective August 1.

Of late, however, shareholders, though, have reportedly not been happy with the company's financial performance over the past decade under Immelt's leadership.

Flannery, a 55-year-old who joined the company 30 years ago and is now the head of its healthcare unit, will also become chairman after Immelt retires on December 31. According to his company bio, he also bolstered the unit's digital and technological capabilities, particularly through the launch of Sustainable Healthcare Solutions, to reinforce the company as a leader in industry technology. He became the President and CEO of GE Equity in 2002 and moved to Asia in 2005 to be responsible for the Asia Pacific region for GE Capital.

Immelt (pictured above, left) transformed GE into a "simpler" and "deeper" company, Flannery (pictured above, right) said during a town hall discussion broadcast live Monday on Facebook.

He also helped to position GE Healthcare in imaging, digital platforms and by expanding life sciences efforts.

Mr. Flannery will review the businesses and doesn't come into the job with any sacred cows, but no major changes are anticipated at this time and there is no mandate to shake up the portfolio, the person said.

In his view, Flannery's prior experience leading GE's business development team, which seeks out M&A deals, would make him "readily adept at maximizing value and structuring potential exits" - as Flannery did through the 2015 acquisition of Alstom's power and grid business.

"In the next few months, my focus will be on listening to investors, customers and employees to determine the next steps for GE", he said in a statement.


Mr. Bornstein will remain chief financial officer and become vice chairman, GE said.

GE said Immelt's departure was not triggered by outside influences and was the culmination of six years of succession planning. While CEO, GE returned $143 billion to investors in dividends, more than in the entire prior history of the company. Flannery joined GE Healthcare in 2014, overseeing a turnaround of that business, the company said. "The market didn't want to give Immelt any credit for those investments because so numerous things in the past haven't worked out".

It's worth noting that Immelt also ran GE Healthcare before he was tapped for GE's top post.

"The market didn't want to give Immelt any credit for those investments because so numerous things in the past haven't worked out".

Jeff Windau, an analyst at Edward Jones, likes the GE story, particularly restructuring out of capital.

Vertical Research analyst Jeff Sprague agreed with Davis and expects the company to lower expectations for its earnings targets.

"He made a lot of transformative calls, and, frankly, courageous calls and, I would say, frequently lonely calls", Flannery said.

Consigliato

  • RSA Insurance Group Plc (RSNAY) Valuation According To Analysts

    In the currency markets, sterling was up 0.46% against the dollar at $1.2713 and climbed 0.44% lower against the euro to €1.1343. The stock of BP plc (LON:BP) has "Overweight" rating given on Tuesday, October 4 by Barclays Capital.

    National Basketball Association champion Warriors undecided on potential White House visit

    He also called Trump a "blowhard" and said he's unfit to be president. To be a great leader, there have to be some qualities in there.

    National Basketball Association champions Golden State Warriors unlikely to visit White House

    And just so you know, I don't support the Cavaliers , I support Orlando Magic and have done since I was young. Smith. "I knew it was going to be a battle I just tried to challenge him - you can't stop the guy".
  • Carnage at US Open as world's top three sent packing

    Then came the second nine on Friday, and all of a sudden Fowler had to play defense. "And I just unfortunately didn't execute". He is long and straight off the tee and an excellent chipper from closely mown areas around the green.

    Kevin Durant Shows DC Love After NBA Championship Win

    In all five games, GSW forward was demolishing the Cavs averaging 35.2 points per game, 8.4 rebounds, 5.4 assists and 1.6 blocks. Durant's greatest moment of the finals and perhaps of his career came in the final moments of Game 3.

    Man arrested outside UK Parliament, police say

    The man was detained at 11:10 am (1010 GMT) by the Palace of Westminster in central London , police said in a statement. British armed police have detained a man on suspicion of having a knife near the country's Parliament in London .
  • Secret Service says it has no Trump tapes

    Spicer refused to engage reporters who asked why the president won't give a clear-cut answer on the potential recordings. But it eliminates the possibility that he'd recreated a taping system used by Presidents Richard Nixon and John F.
    Robben

    Robben "Sto pensando al ritiro"

    Quello che so è che tornerò in Olanda, a Groeningen . "Al momento penso solo al qui e ora". Sto iniziando sempre più a guardare avanti per tutto quello che accadrà dopo il ritiro.

    Rep. Scalise remains in critical condition after surgery

    Trump and his wife Melania visited Scalise in the hospital Wednesday evening, bringing the injured congressman flowers. The gunman, identified by authorities as James Hodgkinson , died of wounds he sustained during a shootout with police.
  • Manchester United miss out as Antoine Griezmann commits to Atletico Madrid

    Manchester United are offering Griezmann a weekly wage of £280,000 ($360,500) or just under £15 million ($19.3 million) a year. The Belgian scored 25 league goals this season and would definitely fit the bill for the club's main summer signing.
    John Avildsen addio al regista di Rocky e Karate Kid

    John Avildsen addio al regista di Rocky e Karate Kid

    A dare la ferale notizia è stato il figlio Anthony, che ha comunicato la scomparsa del padre a causa di un cancro al pancreas. Almeno tre generazioni ha indossato i guantoni con Sylvvester Stallone e ralph Macchio ovvero con Rocky e Daniel LaRusso .
    Theresa May sidesteps questions about response to Grenfell Tower disaster

    Theresa May sidesteps questions about response to Grenfell Tower disaster

    Mrs May, already under pressure after a botched snap election, is facing widespread criticism for her response to the blaze. The blaze tore through all floors of the building and took more than 200 firefighters 24 hours to bring it under control.

Senate passes sweeping sanctions bill targeting Iran, Russia Senate passes sweeping sanctions bill targeting Iran, Russia As the push for more sanctions gained steam, the administration sent mixed signals about its stance. The enormous support from the Senate sets up a showdown between Congress and President Trump .

Caldo africano e temporali: nei prossimi giorni arrivano afa e grandine Caldo africano e temporali: nei prossimi giorni arrivano afa e grandine Meteo centro Italia vi augura un Buon Weekend! Mattinata stabile e calda caratterizzata dal transito di innocui ammassi nuvolosi. Nel pomeriggio temporali in formazione specie sui settori alpini e prealpini, dal Piemonte sino al Friuli.

Kevin Durant Received Text From Former President Barack Obama After Finals Win Kevin Durant Received Text From Former President Barack Obama After Finals Win Appearing on Bill Simmons' podcast , Durant revealed that Obama was among those to congratulate him on his first title. You can listen to the exchange through the link below, with excerpted conversation starting around the 43:30 mark.

Dancing host Kevin Spacey steals the show at Tony Awards Dancing host Kevin Spacey steals the show at Tony Awards Dressed as Glenn Close, who stars in that revival, Spacey sang, "I'm coming out." and then added, "Of makeup". Ashley said the musical, which had been nominated for seven Tony Awards , is "gaining traction" on Broadway.

US Open: How the Irish have fared on Day 2 The USGA said it would provide complimentary bottled water at all drinking water stations for the rest of the tournament. He made four birdies over the last six holes to salvage a 71, but he still missed the cut for the second straight year.

Rogo Londra, irruzione nel municipio Kensington: "Assassini" Rogo Londra, irruzione nel municipio Kensington: La ditta che ha portato avanti i lavori di ristrutturazione nel 2015, però, assicura di aver rispettato tutte le norme. Tra loro ci sono anche Gloria Trevisan e Marco Gottardi . " Ciao mamma, grazie per tutto quello che mi hai dato ".

London fire: Tower victims 'may never be identified' One of the victims was named as Mohammed Alhajali, a 23-year-old Syrian refugee, who came to Britain in 2014 with his brother. Commander Stuart Cundy said 58 people who were in Grenfell Tower on the night of the blaze are missing and presumed dead.

Adam West, who played 1960s-era Batman, dies at 88 Adam West, who played 1960s-era Batman, dies at 88 A family spokesperson told news outlets that Adam West died Friday night in Los Angeles after a battle with leukemia . All the best TV shows we miss from the 1990s to serve you a bit of warming nostalgia. "Hug your loved ones today".

AC Milan still interested in Manchester United target Morata With Zlatan Ibrahimovic not part of Manchester United anymore, Mourinho seems to have found the ideal replacement in Morata. And Morata's agent, Lopez, has opened up on his clients future, revealing it's up to Real to consider United's offer.

Prosecutors say they'll retry Bill Cosby Constand alleges that Cosby incapacitated her with blue pills and then molested her while she drifted in and out of consciousness. He co-starred in the 1960s espionage show " I Spy ", the first black performer to star in a weekly American TV dramatic series.

Trump tweets of witch hunt amid Russian Federation probe, bashes Hillary Clinton Mueller is investigating Russian interference in USA elections and possible Russian ties to the Trump campaign. Trump has repeatedly complained about the probe, saying Democrats can not accept his election win.

Pakistan ready to 'change history' against India What impressed Arthur after the India result were the players' honest appraisals, the sign of a maturity that wasn't in the side a year ago.

Gloria Allred to Bill Cosby: 'Round 2 is coming' The 11-day trial was expected to come at a high cost for the county. "You can't put a price tag on justice", Steele said. Meanwhile, Cosby's wife Camille has issued a statement criticizing the judge, prosecutors, and journalists.

Diageo plc (DGE) Given "Buy" Rating at Shore Capital Investec Securities's target would suggest a potential upside of 21.73% from the company's previous close. Old Mutual Customised Solutions (Proprietary) Limited owns 4,000 shares or 0.28% of their U.S. portfolio.

Judge declares mistrial in Cosby case Cosby's power is back", announced his spokesperson Andrew Wyatt, triumphantly, outside the courtroom. Cosby has also been accused by at least 59 other women of drugging and/or sexually assaulting them.