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Changes at General Electric
General Electric is making some changes at the top.
The industrial giant said on Monday that its chairman and chief executive, Jeffrey R. Immelt, would retire at the end of the year, and be replaced by the top executive in its health care business.
John Flannery, 55, the president and chief executive of GE Healthcare, will become chief executive of the conglomerate on Aug. 1, with Mr. Immelt, 61, remaining as chairman until he retires on Dec. 31. Mr. Flannery, a 30-year veteran of G.E., will add the role of chairman on Jan. 1.
The leadership change comes 16 years after Mr. Immelt replaced Jack Welch, G.E.’s legendary chairman and chief executive, and as the company has sought to return its focus on its industrial roots after years of expansion into finance.
G.E. also said that Jeff Bornstein, the company’s chief financial officer, would be promoted to vice chairman.
What to Watch For: Uber Moves
• Uber’s board has met, and has agreed to adopt all of the recommendations made in a report by the former United States attorney general Eric H. Holder Jr. based on an inquiry into the company’s culture. Whether it means that the ride-hailing service’s chief executive, Travis Kalanick, will take a leave of absence, however, is unclear.
• Don’t forget to read the DealBook Morning Agenda.
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