John Rice to Retire From GE
GE announced today that Vice Chair John Rice will retire from GE effective December 31, 2017, after 39 years of service.
Over the course of his career, John Rice has led GE Transportation, GE Energy, and GE Technology Infrastructure (which at the time included Aviation, Transportation and Healthcare) before his current role leading GE’s Global Growth Organization (GGO). As CEO of GE Energy, John and his team purchased Enron Wind out of bankruptcy for $250MM in 2002. Today that business has approximately $8B in revenues. John’s efforts to expand into new global markets through GGO has more than doubled GE’s global footprint from 92 countries in 2010 to more than 180 today, and grew revenues generated by GE’s industrial businesses outside the United States to $67 billion in 2016. John’s leadership of GGO helped increase global revenues to approximately 60% of the total company revenues. GE remains firmly committed to our global markets, customers and teams under GGO.
John Flannery, chairman and CEO of GE, said, “John is known and respected by government leaders and customers in all of GE’s global markets for his tireless energy and relentless focus on helping solve their challenges. He is also known and loved by thousands of GE people around the world. John is a global thinker and an inspiring leader. He is a role model and friend to many at GE, including myself.”
John Rice will continue to lead the GGO through year-end. GE also announced today in separate press releases that Vice Chair Beth Comstock will retire from the company, and Vice Chair Jeff Bornstein will leave the company.
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