World News | GE CEO Culp to Lead Company's Aviation Unit
Get latest articles and stories on World at LatestLY. General Electric Chairman and CEO Larry Culp is taking on the additional role as the top executive at the company's aviation business.
Washington, Jun 27 (AP) General Electric Chairman and CEO Larry Culp is taking on the additional role as the top executive at the company's aviation business.
Culp eight months ago engineered the break up of the conglomerate in which it would spin off its health care and energy divisions, with the aviation wing remaining under the control of GE.
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GE said Monday that aviation's current CEO, John Slattery, will become executive vice president and chief commercial officer of the business.
The Boston company had begun to carve off pieces of itself not long after the financial crisis in 2008, and those efforts accelerated when Culp took over in 2018.
Also on Monday, GE said Russell Stokes, currently senior vice president of GE and president & CEO of GE Aviation Services, is being named CEO of Commercial Engines and Services.
Shane Wright, chief financial officer and chief operating officer of the aviation business, is retiring. Wright will be succeeded in the CFO post by Rahul Ghai, who is currently executive vice president and CFO of Otis Worldwide.
GE laid out a timetable in which it would complete the spinoff of its healthcare sector by early next year, and it's power division in 2024. (AP)
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