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John Flannery Succeeds Jeff Immelt as GE Chairman 

John Flannery Succeeds Jeff Immelt as GE Chairman
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General Electric’s Jeffrey R. Immelt resigned as director and chairman of the company’s board of directors. John Flannery, who assumed control as CEO from Immelt in August, was chosen as the new chairman, GE said in an announcement on Monday, Oct. 2. Immelt left because “the CEO transition has proceeded smoothly,” the organization said.

Immelt also resigned as the director and chairman of the Board of Directors of Baker Hughes, a GE organization. The BHGE Board of Directors chose Lorenzo Simonelli, president and CEO of BHGE, to succeed Immelt as chairman and chose W. Geoffrey Beattie to fill in as lead independent director. Immelt, 61, had been required to step down as director of Boston-based GE towards the end of this year. Immelt pulled himself out of consideration for the top job at Uber in late August.

The move quickens GE’s leadership alteration as Flannery, under immense pressure from dissident investor Trian Fund Management, looks to reverse the current year’s greatest stock drop on the Dow Jones industrial average. Under the new supervisor, GE has said it will offer its armada of corporate jets and let loose of its industrial products operation to ABB. Flannery is relied upon to outline and strategize his ideas for GE’s arrangement of businesses next month. GE shares have tumbled 22 percent this year. GE climbed less than 1 percent to $24.66 after the close of regular trading in New York.

GE is the world’s digital industrial company, changing industry with programming-coded machines and arrangements that are connected, responsive and predictive. GE is composed around a worldwide trade of information, the “GE Store,” through which every business offers and gets to a similar technology, markets, structure and acumen. Every creation additionally powers development and application over our modern parts. With individuals, administrations, innovation and scale, GE conveys better results for clients by talking the dialect of industry.


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Kashish Ambekar
Kashish Ambekar
Kashish moved to UAE from London after graduating from UEL in Masters of Business Administration specialising in Finance. Money smelt good although tipping in rubies was a forte in Dubai which he couldn’t afford let alone implement. India happened naturally by birth and the ever developing market proved no bounds in almost every Industry. The Art of writing came naturally to him, short stories to professional articles in lieu of being therapeutic once, to a full time content writer. Currently he works for XDBS as a senior business development manager and is extremely devoted as much as his thoughts have found a way to be penned for technology in support to TechFunnel.com.

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