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General Electric CEO Larry Culp expands role to head aviation unit
Leadership shuffle comes ahead of planned listing of GE Aviation as independent company
• Leadership shuffle comes ahead of planned listing of GE Aviation as independent company
General Electric Co (NYSE: GE) on Monday said Chief Executive Larry Culp would expand his role and head the aviation business unit, replacing John Slattery, who will become the chief commercial officer.
In this additional role, Culp will have to navigate GE Aviation, which supplies aircraft engines to Boeing Co (NYSE: BA), through supply chain disruptions and inflationary pressures at a time when planemakers are ramping up production to meet travel demand.
Since becoming CEO in 2018, Culp has worked to trim General Electric’s debt pile, cut costs and simplify its operations. The company last year announced it would break up into three companies focused on aviation, healthcare and energy.
“The Board and I decided it is the right time for me to take on this expanded role and work even more closely with the team to support our customers, meet the unprecedented demand ramp, and prepare for GE Aviation’s future as an independent public company,” Culp, who will also remain as the chairperson of GE, said in a statement.
The company also named Otis Worldwide Corp (NYSE: OTIS) executive Rahul Ghai as the aviation unit’s finance head in place of Shane Wright, who is set to retire, and Russell Stokes as the CEO of the Commercial Engines and Services, GE Aviation.
Picture Credit: CNBC
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