Bengaluru — General Electric named John Flannery CEO of the company as part of a succession plan. Flannery would be CEO of the company effective August 1 and chairman effective January 1, GE said. Current CEO Jeff Immelt would remain chairman of the board until end-December, according to the statement. Flannery, who is currently president and CEO of GE Healthcare, started working with GE Capital about 20 years ago. He has led GE’s equity business in Latin America and the overall GE Capital business for Argentina and Chile. Flannery has led the turnaround of GE Healthcare, increasing organic revenue by 5% and margins by 100 basis points in 2016, GE said. GE’s shares were up 2.7% in premarket trading. Reuters
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