GE names Lawrence Culp chair and CEO
By Peter Saunders
October 2, 2018 – General Electric (GE) has named H. Lawrence Culp, Jr., chair and CEO, effective immediately, following a unanimous vote by its board of directors.
Culp, who has sat on the board since April, succeeds John Flannery. He was previously CEO and president of Danaher, a diversified industrial manufacturer, from 2000 to 2014.
“GE remains strong, with tremendous talent,” he says. “It is a privilege to be asked to lead this iconic company. We will be working very hard in the coming weeks to drive superior execution. We remain committed to strengthening the balance sheet, including de-leveraging.”
At the same time, GE’s board has appointed Thomas W. Horton lead director. He too has been a member of the board since April.
“Tom and I will work with our colleagues on opportunities for continued board renewal,” says Culp. “We have a lot of work ahead of us to unlock the value of GE.”