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GE to Reorganize Into 6 Business Units

Contributed by mm | June 23, 2005 6:14 AM PST





Mr. Immelt installed a deep and young bench team. Good move!

From Wall Street Journal:

The Fairfield, Conn., conglomerate named three new vice chairmen as part of the broad restructuring, which GE said aims to align its businesses for "growth and customer focus." GE also reiterated its second-quarter and full-year earnings guidance, saying the company is in "great shape."

...

The new appointments give Mr. Immelt a younger senior team of executives who, like him, have risen through operations and can offer counsel on how to grow some of GE's biggest and most important businesses and make them more technology driven. Mr. Immelt wants GE to be viewed as a high-technology, rather than old industrial, company.

The promotions also are aimed at retaining executives who are continually wooed for CEO posts elsewhere. For instance, Mr. Calhoun, the head of the new infrastructure division and a confidant of Mr. Immelt's, has been seen as a leading candidate for the chief-executive position at Boeing Co.
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