GE Veteran John Rice Returns to Troubled Power Unit
November 19 2018 - 9:58AM
Dow Jones News
By Thomas Gryta
General Electric Co. said one of Jeff Immelt's top lieutenants
was returning to the company to help oversee a restructuring at its
problematic power division.
The company Monday said John Rice, who spent some four decades
at GE and had retired as vice chairman after Mr. Immelt's exit as
chairman and chief executive last year, would become chairman of
its gas power business.
New CEO Larry Culp is splitting the power unit into two pieces
-- one running its natural gas-fueled power generation business and
another group that will include coal and nuclear power
operations.
Mr. Rice, 63 years old, was formerly GE's top international
executive and ran GE Energy, which included the power business,
from 2000 to 2005.
Scott Strazik, formerly president of GE's power services
business, will be CEO of the gas power division with Mr. Rice as
chairman.
Russell Stokes, who was running the entire power division, will
now oversee the non-gas portfolio.
Write to Thomas Gryta at thomas.gryta@wsj.com
(END) Dow Jones Newswires
November 19, 2018 09:43 ET (14:43 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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