Immelt Exits GE Ahead of Plan as New CEO Adds Chairman Role
- Leadership transition is proceeding smoothly, company says
- New boss seeks to reverse biggest 2017 drop on Dow industrials
Jeffrey Immelt
Photographer: Peter Foley/BloombergThis article is for subscribers only.
General Electric Co.’s Jeffrey Immelt cut his ties with the company about three months ahead of schedule, retiring as chairman and leaving the board.
John Flannery, who took over as chief executive officer from Immelt in August, was elected chairman, GE said in a statement Monday. Immelt left after determining “that the CEO transition has proceeded smoothly,” said the maker of jet engines, gas turbines and ultrasound machines.