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Monday, 12 June 2017 14:12

Breaking News: GE Names New CEO as Jeff Immelt Steps Down Featured

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GE Names John Flannery as CEO as Jeff Immelt Steps Down

General Electric announced that Chairman and CEO Jeff Immelt, 61, will be stepping down. John Flannery, 55, current president and CEO of GE Healthcare, has been named CEO. Immelt will remain chairman of the board through his retirement from the company at the end of the year. Flannery will take over as chairman of the board next year.

Flannery took over as the President and CEO of GE Healthcare in October 2014. He has helped turn around GE's healthcare business, increasing organic revenue by 5 percent and margins by 100 basis points in 2016.

Prior to that, he was SVP for Corporate Business Development from April 2013, President and CEO for GE India from October 2009 to April 2013, and held leadership roles in GE’s industrial segments, had an extensive career in GE Capital concluding with his role as President & CEO of GE Capital Asia Pacific.

Flannery has been with GE for over 25 years and has extensive experience in building and leading large teams and growing businesses in global assignments. 

Immelt has held several global leadership positions since coming to GE in 1982, including roles in GE's Plastics, Appliances, and Healthcare businesses. In 1989 he became an officer of GE and joined the GE Capital Board in 1997. Immelt was the chair of President Obama's Council on Jobs and Competitiveness. He is a member of The American Academy of Arts & Sciences.

Date: June 12, 2017

Read 2345 times Last modified on Tuesday, 08 September 2020 16:47
Dora Vell

Dora Vell is the Managing Partner of Vell Executive Search, a boutique executive search firm in Boston focused on recruiting technology executives and board members. Vell has successfully completed numerous board member and C-level executive searches, including CEOs, COOs, CIOs, and Vice Presidents - at both public and private companies.

Prior to founding the firm in 2005, Vell was a Partner at Heidrick & Struggles' Technology practice for seven years.  Before her career in executive search, she worked at IBM for 11 years, managing software engineering organizations of 100 people and software sales organizations with revenues of $150 million. She has also served as an executive assistant to the CEO of IBM Canada for one year.

Vell holds seven worldwide software patents. She has published several Business of Leadership reports on governance and leadership and has been quoted in numerous articles including The Wall Street Journal, Forbes, Business Week, Fortune, Agenda Week, MSNBC, Mass High Tech, the OPUS for the World Economic Forum, Boston Business Journal, The Globe & Mail, CIO Magazine, and IEEE. She also has been a featured speaker on leadership at numerous conferences and at Columbia University's MBA program.

Vell is a member of the National Association of Corporate Directors (NACD), the Boston CEO Roundtable. She has served on the boards of Framingham State, Entrepreneur's Organization, Goodwill, Mary Centre for developmentally handicapped adults,, and RBC Capital Partners.

She has received an MBA from the University of Toronto, a Master in Computer Science from the University of Waterloo, and a Bachelor in Computer Science from Carleton. She has also completed the MIT Entrepreneurial Master’s program.

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