GE CEO Culp to lead company’s aviation unit

Jun 27, 2022, 8:12 AM | Updated: 8:37 am
FILE - In this Aug. 16, 2019, file photo the logo for General Electric appears above a trading post...

FILE - In this Aug. 16, 2019, file photo the logo for General Electric appears above a trading post on the floor of the New York Stock Exchange. General Electric CEO Larry Culp is taking on the additional role of CEO of the company’s aviation business. GE said Monday, June 27, 2022 that aviation’s current CEO, John Slattery, will now serve as executive vice president and chief commercial officer of the business. GE announced in November that it would divide itself into three public companies focused on aviation, health care and energy. (AP Photo/Richard Drew, File)

(AP Photo/Richard Drew, File)

General Electric Chairman and CEO Larry Culp is taking on the additional role as the top executive at the company’s aviation business.

Culp eight months ago engineered the break up of the conglomerate in which it would spin off its health care and energy divisions, with the aviation wing remaining under the control of GE.

GE said Monday that aviation’s current CEO, John Slattery, will become executive vice president and chief commercial officer of the business.

The Boston company had begun to carve off pieces of itself not long after the financial crisis in 2008, and those efforts accelerated when Culp took over in 2018.

Also on Monday, GE said Russell Stokes, currently senior vice president of GE and president & CEO of GE Aviation Services, is being named CEO of Commercial Engines and Services.

Shane Wright, chief financial officer and chief operating officer of the aviation business, is retiring. Wright will be succeeded in the CFO post by Rahul Ghai, who is currently executive vice president and CFO of Otis Worldwide.

GE laid out a timetable in which it would complete the spinoff of its healthcare sector by early next year, and it’s power division in 2024.

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GE CEO Culp to lead company’s aviation unit