8-KLeadership Changes

GENERAL ELECTRIC CO 8-K Report, Executive Changes (Jun 17, 2020)

Filed June 17, 2020For Securities:GE

Summary

General Electric Company (GE) announced a significant leadership transition within its GE Aviation division. David Joyce, Vice Chairman and President and CEO of GE Aviation, has informed the company of his intention to retire after a distinguished 40-year career with GE. This retirement marks the end of an era for a key figure in the company's aviation segment. To ensure a smooth handover, GE has appointed John Slattery, currently President and CEO of Commercial Aviation for Embraer, as the successor. Mr. Slattery will join GE as President and CEO-elect of GE Aviation on July 13, 2020, and formally assume the role of President and CEO on September 1, 2020. Mr. Joyce will remain involved in a transitional capacity, serving as non-executive Chairman of GE Aviation through the end of 2020 and as an advisor to GE Research and GE Aviation into 2021, ensuring continuity and knowledge transfer.

Key Highlights

  • 1David Joyce, Vice Chairman and President & CEO of GE Aviation, is retiring after 40 years.
  • 2John Slattery, formerly President & CEO of Commercial Aviation for Embraer, will succeed David Joyce.
  • 3Slattery will join GE as President & CEO-elect of GE Aviation on July 13, 2020.
  • 4Slattery will officially become President & CEO of GE Aviation on September 1, 2020.
  • 5Joyce will transition to non-executive Chairman of GE Aviation until December 31, 2020.
  • 6Joyce will also serve as an advisor to GE Research and GE Aviation through late 2020 and into 2021.

Frequently Asked Questions

John Slattery, who previously served as President and CEO of Commercial Aviation for Embraer, will be succeeding David Joyce.

John Slattery will join GE as President and CEO-elect on July 13, 2020, and will officially assume the role of President and CEO on September 1, 2020. David Joyce will remain involved in a transitional capacity until December 31, 2020.

Following his retirement as President and CEO, David Joyce will serve as non-executive Chairman of GE Aviation through December 31, 2020. He will also continue as GE Vice Chairman and serve as an advisor to GE Research and GE Aviation into 2021.

While the announcement was made on June 12, 2020, the filing indicates that Mr. Slattery's joining is part of a 'planned transition process to identify Mr. Joyce’s successor,' suggesting a degree of foresight in the succession planning.