Boston, October 2, 2017 – GE (NYSE: GE) today announced that effective October 2, 2017, Jeffrey R. Immelt retired as a director and Chairman of General Electric Company’s Board of Directors (the “GE Board”) in light of Mr. Immelt’s determination that the CEO transition has proceeded smoothly and that John L. Flannery, Chief Executive Officer, director and Chair-Elect, was ready to succeed Mr. Immelt as Chairman of the Board. The Board concurred and elected Mr. Flannery as Chairman of the Board effective October 2, 2017.
Effective October 2, 2017, Mr. Immelt also retired as a director and Chairman of the Board of Directors of Baker Hughes, a GE company (“BHGE”). The BHGE Board of Directors (the “BHGE Board”) elected Lorenzo Simonelli, President and Chief Executive Officer of BHGE, to succeed Mr. Immelt as Chairman and elected W. Geoffrey Beattie to serve as lead independent director.
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