GE merges energy businesses
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Seattle: General Electric Co. said on Wednesday it will fold its energy connections business into its GE Power unit, and that connections chief Russell Stokes would lead the combined business as Steve Bolze retires as head of GE Power.
Bolze said in a letter to employees that he had told GE chief executive Jeff Immelt he would retire after 24 years at GE if he was not chosen to lead the company.
GE on Monday named John Flannery, head of its Healthcare division, to succeed Immelt as chief executive officer starting 1 August. Reuters