General Electric Shuffles Management at Power Unit

General Electric is shuffling leadership at its power unit as it moves to split the division in its ongoing effort to slim down operations.

Nov 19th, 2018

The Associated Press

This June 24, 2014 file photo shows the General Electric plant in Belfort, eastern France. General Electric Co. is cutting up to 6,500 jobs in Europe after buying a big chunk of France’s Alstom, raising questions about GE’s pledges to create rather than destroy jobs. (AP Photo/Thibault Camus, File)

This June 24, 2014 file photo shows the General Electric plant in Belfort, eastern France. General Electric Co. is cutting up to 6,500 jobs in Europe after buying a big chunk of France’s Alstom, raising questions about GE’s pledges to create rather than destroy jobs. (AP Photo/Thibault Camus, File)

General Electric is shuffling leadership at its power unit as it moves to split the division in its ongoing effort to slim down operations.

Scott Strazik, current president of Power Services, will serve as the CEO of the GE Gas Power business.

Russell Stokes, current CEO of GE Power, will serve as CEO of GE Power Portfolio. That new unit will focus on steam and nuclear power along with the power conversion business.

The power unit recorded a $22 billion charge in the third quarter.

The management changes come less than two months after the ouster of General Electric CEO John Flannery, having served just one year on the job. He was replaced by H. Lawrence Culp, former CEO of Danaher Corp.

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