General Electric Co. said Wednesday that John G. Rice will lead GE's Infrastructure business, and Lloyd G. Trotter will head the company's Industrial business. Trotter also has been named a GE vice chairman.
The changes are effective immediately.
Rice becomes president and CEO, GE Infrastructure, succeeding David L. Calhoun, who has taken a position outside GE. Rice has been a GE vice chairman for the past year, serving as president and CEO of GE Industrial. A 28-year GE veteran, Rice previously has run three of the units within Infrastructure, GE Energy, GE Transportation and GE Oil and Gas.
GE's Infrastructure business includes Aviation, Rail, Energy, Oil and Gas, Water and the financial verticals associated with these industries. It is a $47 billion global business that is on track to grow earnings about 15 percent in 2006 and positioned for double-digit growth over the next several years, GE said.
Trotter will succeed Rice as head of GE Industrial, which includes Plastics, Advanced Materials, Consumer & Industrial, Security, Sensing, Fanuc, Inspection Technologies and Equipment Services. It is a $35 billion business that is expected to grow earnings 15 percent in 2006.
Trotter is a 36-year GE veteran and has led several of the Industrial units, including GE Consumer & Industrial. For the past year, Trotter has been executive vice president, operations. In this role, he has lead efforts to lower structural cost, improve operational excellence across GE and achieve world-class excellence in GE's supply chain.
"These are two strong and experienced GE leaders with excellent operating edge and proven ability to grow global businesses," GE CEO Jeffrey Immelt said. "We are fortunate to have a deep pool of outstanding executives like John and Lloyd to help lead our Company."
Calhoun was named the CEO and Chairman of the Executive Board of VNU, a $4 billion global media and information company. VNU operates businesses including the ACNielsen retail measurement and analytics business, the Nielsen Media Research television ratings business and a portfolio of trade expositions and publications. Calhoun has been with GE since 1979 serving in a number of leadership positions.