GE [NYSE:GE] Chairman and CEO Jeff Immelt announced today the
appointment of Dan Janki to lead GE’s Treasury operations, succeeding
Kathy Cassidy, who is retiring later this year after 35 years of service
to GE. Mark Begor, who currently leads GE Capital’s Real Estate
business, will succeed Janki as president & CEO of GE Energy Management.
Alec Burger, currently the North America leader for GE Capital Real
Estate, will succeed Mark Begor as president & CEO of GE Capital Real
Estate. The CEO appointments are effective immediately and the formal
Treasury transition will be effective by the end of April.
Janki, 45, has been president & CEO of GE Energy Management since 2012.
In this role, he brought together a new GE business and refocused its
product portfolio and business footprint. Janki began his career with GE
in 1992 in the Financial Management Program and subsequently joined the
GE Audit staff. He has held a number of senior finance positions within
the Company, including CFO of GE Equity, CFO of GE Money-Americas, head
of GE Investor Relations and CFO for GE Energy before leading Energy
Management.
“With his leadership skills, financial expertise and knowledge of the
company, Dan is the right person to succeed Kathy Cassidy as Treasurer,”
Immelt said. “GE Treasury is responsible for global funding and
liquidity, cash management and treasury services for all of GE's
worldwide operations and Dan will be a strong leader for the team.”
Begor, 56, is a 33-year GE veteran and has been president & CEO of GE
Capital Real Estate since 2011. He joined GE in 1980 on GE’s Financial
Management Program and was a member of the GE Audit Staff. He has
experience in both the Industrial and Capital businesses, including
leadership roles at NBC. He held a number of leadership roles in GE
Plastics, including the head of Global Sourcing and leader of GE
Petrochemicals. He was also GE's head of Investor Relations. In 2002,
Begor joined GE Capital as CEO of Retail Finance where he doubled the
business during his nine years as CEO.
“Mark has led a terrific turnaround at GE Real Estate, returning the
business to profitability ahead of plan and growing its lending volume,”
Immelt said. “His broad operating experience and focus will be a real
asset in Energy Management as they develop advanced technology solutions
to help solve the efficiency challenges of our energy partners.”
Burger, 50, will succeed Begor as president & CEO of GE Capital Real
Estate. A 23-year GE veteran, Burger is president of GE Capital Real
Estate’s North America division. He is responsible for commercial real
estate lending and investing throughout the U.S., Mexico and Canada.
Prior to his current role, he was managing director of GE Capital Real
Estate United Kingdom and quality leader at GE Capital Solutions. Prior
to joining GE’s Corporate Business Development division in 1991, Alec
worked for Bain and Company.
“Alec is the right leader to take over GE Capital Real Estate as we
continue to increase lending volume in this valuable Real Estate debt
franchise and shrink its equity book,” said Immelt.
Kathy Cassidy, 60, will retire later this year after successfully
leading GE’s Treasury operation since 2001. She will support Janki’s
assimilation into the Treasury leadership role and will continue to
manage the Treasury aspects of the Synchrony Financial IPO slated for
this summer.
“Kathy has been a strong leader of this team and is highly regarded
inside the company and in financial markets,” Immelt said. “GE has
always been able to count on Kathy, and I want to thank her for her
service to our Company.”
About GE
GE (NYSE:GE) works on things that matter. The best people and the best
technologies taking on the toughest challenges. Finding solutions in
energy, health and home, transportation and finance. Building, powering,
moving and curing the world. Not just imagining. Doing. GE works. For
more information, visit the company's website at www.ge.com.
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