GE Appoints Heintzelman Oil & Gas Chief as Santiago Retires
General Electric Co. (GE) shuffled some of its energy executives, naming Dan Heintzelman to lead the burgeoning Oil & Gas unit after Claudi Santiago retires in December.
The changes at the Fairfield, Connecticut-based company’s largest industrial unit are effective immediately, with Santiago reporting directly to Chief Executive Officer Jeffrey Immelt in the interim, GE said in a statement today.
Santiago “led GE Oil & Gas during a period when it became a global leader in its industry,” Immelt said in the statement. The unit’s sales more than doubled to $7.56 billion in the five years through 2010. Heintzelman, Santiago’s successor, previously ran the services division at Atlanta-based GE Energy.
GE Energy Infrastructure, the world’s biggest provider of power-generation equipment and related services, has made more than $11 billion in acquisitions since October. Those include John Wood Group Plc’s well-support division; Wellstream Holdings Plc (WSM), an oil-services provider focused on Brazil; and Dresser Inc.
GE Energy Infrastructure generated 25 percent of the parent company’s $150.2 billion in sales last year, according to data compiled by Bloomberg.
GE also moved Dan Janki, the energy division’s chief financial officer, to lead a new energy-management business and expanded the duties of Steve Bolze, who oversees power and water, to include power-generation services.
The energy-management division includes technology solutions for the delivery, management and conversion of electrical power. Lynn Calpeter, currently chief financial officer for NBC Universal, will take Janki’s previous role.
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