GE Names Real Estate Chief to Run Jet Lessor With Liu to Retire

General Electric Co. named its real estate chief to run aircraft lessor GE Capital Aviation Services as the unit’s current leader, Norm Liu, prepares to retire in late 2016.

Alec Burger, 52, will become president and chief executive officer of the business known as Gecas effective Jan. 1. Liu, 58, will become chairman, GE said Tuesday.

The moves extend CEO Jeffrey Immelt’s reshaping of his senior leadership team along with the shrinking of the GE Capital division. In September, GE promoted an executive in the power business, Vic Abate, to be chief technology officer, following the appointments of a new vice chair, chief marketing officer, chief information officer and CEO of the transportation division.

Before it's here, it's on the Bloomberg Terminal.