GE Capital CEO to Retire, Other Leadership Changes

GE Capital CEO to Retire, Other Leadership Changes

GE made several recent announcements about leadership changes in the company. Keith Sherin will retire from GE after 35 years of service; Richard Laxer will lead GE Capital; Aris Kekedjian will lead GE M&A/Business Development Team; and energy industry veteran Kevin Hart has been named Country Leader for New Zealand.

BOSTON, Mass. Keith S. Sherin, GE vice chairman and GE Capital chairman and CEO, will retire from GE effective December 31, 2016.  

Sherin, 57, led the successful transformation of GE Capital into a smaller, more focused company after a career in business leadership positions across GE, including 15 years as GE Chief Financial Officer.

Jeff Immelt, GE chairman and CEO, said, “We are very fortunate to have an executive of the caliber of Rich Laxer to succeed Keith Sherin in leading GE Capital.  Rich has a long and distinguished track record of leadership at GE and is ideally suited to lead GE Capital in its new role supporting GE’s industrial growth.”

Regarding Sherin’s contributions to GE, Jeff Immelt said, “For 35 years, Keith has dedicated himself to the General Electric Company.  As a vice chairman, he has had a direct influence on the company’s direction, its financial health and its position as the world’s premiere digital industrial company.  During his 15 years as GE CFO, Keith served with utmost integrity and provided a thoughtful steady voice as we navigated a world of volatility.”  

“Since April 2015, Keith has led the flawless execution of our strategy to reposition GE Capital. I thank Keith immensely for his relentless passion for 35 years to do right by all – our shareholders, customers and employees. Keith is a special leader, immensely talented yet humble. In the history of GE, few can match his impact.”

Going forward, Richard A. Laxer, GE Capital International president and CEO, will lead GE Capital effective September 1, 2016 as President and CEO.

Richard Laxer, 55, started his career in GE’s Financial Management Program in 1984 and has held leadership positions in Finance and later as CEO of major GE Capital businesses around the globe.  He has been the leader of GE Capital’s international operations since 2009 and has been named a senior vice president of GE.

In another recent statement, GE also announced that Aris Kekedjian, GE Capital M&A and business development leader, will lead GE’s M&A / business development team effective September 1, 2016. Kekedjian has led the GE Capital M&A team since 2010 and has been a central figure in the successful transformation of GE Capital into a smaller, safer company over the last 18 months.

Jeff Immelt, GE chairman and CEO, said, “Aris has done an exemplary job in building and leading a first class team at GE Capital, and I look forward to working with him in this new role as we continue to build our position as the leader in the digital industrial economy.” 

GE Capital going forward will primarily consist of three global businesses, GE Capital Aviation Services (GECAS), GE Energy Financial Services and GE Industrial Finance, which support the growth of GE’s industrial businesses and customers.

AUCKLAND, New Zealand — GE has announced the appointment of Kevin Hart as GE Country Leader for New Zealand.

Hart, an industry veteran with more than thirty years’ experience in the energy sector, served most recently as General Manager, Business Development at specialist international consulting firm, Power Systems Consultants (PSC). In his role as Country Leader for GE New Zealand, his focus will be on continuing to develop the offerings under GE’s core business units including Energy Connections, Power, Renewables and Healthcare.

Geoff Culbert, President and Chief Executive Officer of GE Australia, New Zealand & PNG, welcomed the appointment of Hart, as GE continues to establish its position in sustainable energy and digital industrial solutions across New Zealand.

“It’s a pivotal time for energy and industry in New Zealand. With an impressive national target to generate 90% of the country’s energy from renewable sources by 2025, GE is uniquely positioned with the technology, global experience and local capabilities to help New Zealand support this target.  Kevin will play a critical role in identifying new opportunities and further establishing GE as the market leader in efficient energy and digital industrial solutions,” said Culbert.

Hart says he has a passion for renewable energy and energy efficient outcomes and is looking forward to continuing his work in the region, where he was previously a Board member of the NZ Wind Energy Association.

“GE’s recent partnership with the Waitaki District Council in the Oamaru Water Treatment Plant upgrades, to supply 70 percent of the Waitaki District population with clean drinking water, is just one example of how GE New Zealand is working with the public sector to help reach these targets,” said Hart.

With a colourful and varied career, Hart originally trained as an engineering design draughtsman with the NZ Ministry of Energy, later establishing a private architectural design practice in Colorado, whilst training at the US Olympic Training Centre with the US Judo team.


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