GE Announces Boards of Directors for Future Independent GE Vernova and GE Aerospace
14 Novembro 2023 - 8:30AM
Business Wire
Directors bring strong mix of domain expertise,
diverse perspectives, and leadership experience to help GE Vernova
lead the energy transition and GE Aerospace shape the future of
flight
GE (NYSE:GE) today announced the Boards of Directors for GE
Vernova—the planned independent public company that will be created
following its spin-off from GE—and GE Aerospace.1
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the full release here:
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GE Vernova Board of Directors (Photo:
GE)
GE Chairman and CEO and GE Aerospace CEO H. Lawrence Culp, Jr.,
said, “We’ve assembled two extraordinary boards to oversee GE
Vernova and GE Aerospace, bringing the best of GE forward with
compelling new thinking. Each team of talented directors has deep
expertise in its respective domain, diversity of perspective, and a
wealth of leadership experience. These boards are fit for purpose
to help GE Vernova and GE Aerospace rise to their sharper, more
focused missions as independent companies.”
GE Vernova CEO Scott Strazik said, “Our Board for GE Vernova
brings together multi-dimensional energy transition leadership and
strong management and governance experience. This is another
important step forward toward spinning off GE Vernova as a
standalone company focused on electrifying and decarbonizing the
world.”
Culp continued, “Our team of GE Aerospace directors is
best-in-class. I’m proud to work alongside this group of experts in
commercial aerospace, defense, global affairs, and business
leadership, all in service of our customers as we shape the future
of flight.”
In connection with the spin-off, GE intends to appoint the
following directors to GE Vernova’s Board and include the following
directors on GE Aerospace’s Board:
GE Vernova
GE Aerospace
- Stephen Angel, former CEO of Linde plc, to serve as
Non-Executive Chairman
- Scott Strazik, CEO of GE Vernova
- Nicholas Akins, former chairman and CEO of AEP
- Arnold Donald, former president and CEO, Carnival
- Matthew Harris, founding partner of Global
Infrastructure Partners
- Jesus Malave, CFO, Lockheed Martin
- Paula Rosput Reynolds, CEO, PreferWest and former CEO of
Safeco and AGL Resources
- Kim Rucker, former general counsel at Andeavor and Kraft
Foods Group
- Jessica Uhl, former CFO, Shell
- H. Lawrence Culp, Jr., to serve as Chairman
- Thomas Horton, partner, Global Infrastructure Partners
to serve as Lead Independent Director
- Stephen Angel, former CEO of Linde plc
- Sébastien Bazin, chair and CEO, AccorHotels
- Margaret Billson, former president and CEO of BBA
Aviation, plc's Global Engine Services Division and its predecessor
Aftermarket Services Division
- Thomas Enders, former CEO of Airbus SE and its
predecessor EADS NV
- Edward Garden, chairman and CEO of Garden
Investments
- Isabella Goren, former CFO, American Airlines and
AMR
- Catherine Lesjak, former CFO, HP
- Darren McDew, retired general, United States Air
Force
More information about the Directors can be found below. Ms.
Billson and Mr. Enders will join the GE Board of Directors
effective December 1, 2023. Both will continue as Directors of GE
Aerospace following the planned spin-off of GE Vernova at the
beginning of the second quarter of 2024.
In addition, GE Vernova will host an investor day on Wednesday,
March 6, 2024, in New York, NY. GE Aerospace will host an investor
day on Thursday, March 7, 2024, in New York, NY. More information
will be shared closer to the events.
GE Vernova Directors will include:
- Stephen Angel (Non-Executive Chairman). Mr. Angel has
been the chairman of the board of directors of Linde plc, a leading
global industrial gases and engineering company, since 2022. Prior
to that, he served as CEO of Linde plc from 2018 to 2022 and as
chairman, president, and CEO of Praxair, Inc, from 2007 to 2018.
Before joining Praxair, Mr. Angel spent 22 years in a variety of
management positions with GE. Mr. Angel serves on GE’s Board of
Directors as well as on the board of PPG Industries, and he is a
member of The Business Council.
- Scott Strazik (CEO). Mr. Strazik has been the CEO of the
GE Vernova business since November 2021 and will be appointed as
CEO in connection with the spin-off. Mr. Strazik has more than 20
years of finance, operations, and leadership experience with GE,
including more than ten years in GE’s power businesses. Mr. Strazik
was named president and CEO of the GE Power Services business in
2017 and CEO of the GE Gas Power business in 2018, expanding his
role to leading the GE Power businesses in 2021. Prior to that, he
held a number of leadership roles within GE Power and GE
Aerospace.
- Nicholas Akins. Mr. Akins was executive chair of
American Electric Power Company, Inc. in 2023. Prior to that, he
was the chair of AEP from 2014 to 2022 and president and CEO from
2011 to 2022. Mr. Akins previously held leadership roles at both
AEP and the former Central and South West Corp. and its subsidiary
companies, which merged with AEP in 2000. Mr. Akins serves as chair
of the board of directors of Fifth Third Bancorp.
- Arnold Donald. Mr. Donald was president and CEO of
Carnival Corporation and Carnival plc from 2013 to 2022, and he
served as a director from 2001 to 2022. Mr. Donald previously was
chairman and CEO at Merisant and held several senior leadership
positions with global responsibilities at Monsanto, including
president of its Agricultural Group and president of its Nutrition
and Consumer Sector. Mr. Donald serves on the boards of directors
of Bank of America, Salesforce, and MP Materials Corp.
- Matthew Harris. Mr. Harris is a founding partner of
Global Infrastructure Partners (“GIP”), an infrastructure
investment firm, and has been involved in GIP’s investment,
management, and strategic activities since its formation in 2006.
Prior to GIP, Mr. Harris was co-head of the Global Energy Group and
Head of the EMEA Emerging Markets Group at Credit Suisse First
Boston, as well as a senior member of the Mergers and Acquisitions
Group at Kidder Peabody & Co. Incorporated. Mr. Harris is Chair
of the board of directors of EnLink Midstream LLC, Chair of the
advisory board of Columbia University’s Center on Global Energy
Policy and serves on the board of directors of the World Wildlife
Fund (WWF).
- Jesus Malave. Mr. Malave has served as CFO of Lockheed
Martin Corporation (“Lockheed Martin”) since 2022. Prior to joining
Lockheed Martin in 2022, Mr. Malave served as CFO of L3Harris
Technologies, Inc. from 2019 to 2022, and formerly was CFO of UTC’s
Carrier Corporation from 2018 to 2019 and CFO of UTC’s Aerospace
Systems from 2015 to 2018.
- Kim Rucker. Ms. Rucker served as executive vice
president, general counsel and secretary of Andeavor (formerly
Tesoro Corporation), from 2016 until Andeavor’s acquisition by
Marathon Petroleum Corporation in 2018. Prior to working at Tesoro
Corporation, Ms. Rucker was EVP, corporate & legal affairs,
general counsel, and corporate secretary at Kraft Foods Group, Inc.
from 2012 to 2015, and senior vice president, general counsel,
corporate secretary, and chief compliance officer at Avon Products,
Inc. from 2008 to 2012. Ms. Rucker serves on the boards of
directors of Celanese Corporation, HP Inc, Marathon Petroleum
Corporation, and Lennox International Inc.
- Paula Rosput Reynolds. Ms. Reynolds has been the
president and CEO of PreferWest LLC, a business advisory firm since
2009. Prior to that, she served as vice chairman and chief
restructuring officer of American International Group from 2008 to
2009 and as chairman, president and CEO of Safeco Insurance Company
of America from 2005 to 2008. Ms. Reynolds started her career at
Pacific Gas & Electric Corp in 1979 and spent over 35 years in
the energy industry, including as chairman and CEO of AGL Resources
and CEO of Duke Energy Power Services. Ms. Reynolds serves on GE’s
Board of Directors and on the board of BP plc and as chair of the
board of National Grid plc.
- Jessica Uhl. Ms. Uhl was the CFO of Shell plc from 2017
until 2022. Ms. Uhl previously held a variety of roles with Shell
plc in finance and business development across multiple business
divisions, based in the US, the UK and the Netherlands. She brings
more than 20 years of experience in the energy industry from wind
and solar to liquefied natural gas and upstream. Uhl currently
works with corporates, non-profits, and academia on the energy
transition. Uhl serves on the Boards of Directors of GE and Goldman
Sachs.
GE Aerospace directors will include:
- H. Lawrence Culp, Jr. (Chairman and CEO). Mr. Culp has
served as the Chairman and CEO of GE since October 2018, leading
GE’s transformation. He has also served as CEO of GE Aerospace
since June 2022. Prior to joining GE, Mr. Culp served as the
president and CEO of Danaher Corporation from 2000 to 2014. During
his tenure, Danaher increased both its revenues and its market
capitalization five-fold. Mr. Culp serves as non-executive Chairman
on the Board of GE HealthCare.
- Thomas Horton (Lead Independent Director). Mr. Horton
has been a partner at Global Infrastructure Partners (“GIP”), an
infrastructure investment firm, since 2019. He previously was
chairman and CEO of American Airlines through the successful
restructuring of the airline and its eventual merger with US
Airways, creating the world’s largest airline. Prior to that, Mr.
Horton was CFO at AMR, from 2006 to 2010, and AT&T Corporation,
from 2002 to 2006. He serves on GE’s Board of Directors as well as
on the board of directors of Walmart.
- Stephen Angel. Mr. Angel has been the Chairman of the
board of directors of Linde plc, a leading global industrial gases
and engineering company, since 2022. Prior to that, he served as
CEO of Linde plc from 2018 to 2022 and as chairman, president, and
CEO of Praxair, Inc, from 2007 to 2018. Before joining Praxair, Mr.
Angel spent 22 years in a variety of management positions with GE.
As noted above, Mr. Angel will serve as Chairman of the Board of GE
Vernova, and he also serves on the board of directors of PPG
Industries and is a member of the U.S.-China Business Council
- Sébastien Bazin. Mr. Bazin has been chair and CEO of
AccorHotels since 2013. Prior to that, Mr. Bazin served as CEO of
Europe Colony Capital from 1997 to 2013, and as CEO of Immobilière
Hôtelière from 1992 to 1997. He has worked in the finance sector
since 1985, including as vice president, M&A at Paine Webber.
Mr. Bazin serves on the board of AccorHotels, including Accor
Acquisition Company, as well as on the supervisory boards of the
Gustave Roussy Foundation and Safar Ventures.
- Margaret Billson. Ms Billson served as the president and
CEO of the Global Engine Services Division and its predecessor
Aftermarket Services Division at BBA Aviation, plc from 2013 to
2016. Prior to joining BBA Aviation in 2009, Ms. Billson served as
the president of the Airplane Division and Chief Operating Officer
of Eclipse Aviation from 2005 to 2008. She previously held several
executive leadership roles at Honeywell Aerospace, a division of
Honeywell International and at the Douglas Aircraft Company, a
division of the McDonnell Douglas Corporation mainly leading teams
designing, producing and supporting aircraft, turbine engines and
system components. Ms. Billson serves on the board of directors for
CAE Inc.
- Thomas Enders. Mr. Enders served as the CEO of Airbus SE
and its predecessor EADS NV, a European multinational aerospace
corporation from 2005 to 2019. Before joining the aerospace
industry in 1991, Mr. Enders worked in the German federal
parliament (Bundestag), the German Ministry of Defense, and in
various foreign policy think tanks. Mr. Enders serves on the board
of directors of Linde Plc on the audit committee, the executive
committee, and as chair of the sustainability committee. He also
serves on the board of directors of Lilium N.V., and on the
supervisory board of Lufthansa Group. He also is president of the
German Council on Foreign Relations in Berlin, Germany.
- Edward Garden. Mr. Garden is chairman and CEO of Garden
Investments, his family office, since 2023. Previously, Mr. Garden
was chief investment officer and a founding partner of Trian,
overseeing Trian’s portfolio management, idea generation, analyses,
and due diligence activities. Prior to that, he held leadership
roles at Credit Suisse First Boston and BT Alex Brown.
- Isabella Goren. Ms. Goren was the CFO of American
Airlines, Inc. and AMR Corporation from 2010 to 2013. Prior to
that, she held a variety of roles while at American Airlines,
ranging from human resources to revenue management, investor
relations, international operations, customer relationship
marketing, as well as oversight of supply chain and cargo
operations. She also served as president of AMR Services, a
provider of airport ground services. Goren serves on GE’s Board of
Directors as well as on the boards of directors of Marriott
International and MassMutual Financial Group, on the executive
board of SMU, Lyle School of Engineering, and on the advisory board
of The University of Texas at Austin, Cockrell School of
Engineering.
- Catherine Lesjak. Ms. Lesjak served as CFO for HP and
its predecessor, Hewlett-Packard Company, from 2007 to 2018. She
most recently served as interim chief operating officer of HP and,
in 2010, served briefly as interim chief executive officer for the
company. Earlier in her career, Ms. Lesjak served as senior vice
president and treasurer and in other financial management and
controllership roles. Ms. Lesjak serves on the Boards of Directors
of GE and GE HealthCare as well as on the boards of directors of
PROS and the Berkeley Haas Business School.
- Darren McDew. General McDew is a retired four-star
General of the U.S. Air Force and former Commander of the U.S.
Transportation Command. General McDew commanded at every echelon,
was the former Military Aide to the President, led the Air Force’s
US Senate Office, was director of Air Force Public Affairs, and
former vice director, Strategic Plans and Policy for the Chairman
of the Joint Chiefs of Staff. McDew has over 25 years of experience
in a strategic decision-making executive leadership role in the
field of defense and national security, risk management, logistics
and supply chain, and political military affairs. McDew serves on
GE’s Board of Directors as well as on the boards of directors of
Abbott Laboratories, Parsons Corporation, and USAA.
Forward-looking Statements This document contains
forward-looking statements – that is, statements related to future
events that by their nature address matters that are, to different
degrees, uncertain. For details on the uncertainties that may cause
our actual future results to be materially different than those
expressed in our forward-looking statements, see
https://www.ge.com/investor-relations/important-forward-looking-statement-information,
as well as our SEC filings. We do not undertake to update our
forward-looking statements.
About GE GE (NYSE:GE) rises to the challenge of building
a world that works. For more than 130 years, GE has invented the
future of industry, and today the company’s dedicated team, leading
technology, and global reach and capabilities help the world work
more efficiently, reliably, and safely. GE’s people are diverse and
dedicated, operating with the highest level of integrity and focus
to fulfill GE’s mission and deliver for its customers.
www.ge.com
1 Following the planned spin-off, in which GE will distribute
the common stock of GE Vernova on a pro rata basis to holders of GE
common stock, General Electric Company will be known as GE
Aerospace. In our current financial reporting and guidance, GE
Aerospace refers to our existing reporting segment.
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GE Investor Contact Steve Winoker 617.443.3400
swinoker@ge.com GE Media Contact Mary Kate Mullaney
202.304.6514 marykate.nevin@ge.com
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