Bangalore: US conglomerate General Electric, which has played a role in India’s economy for over a century from producing power to supplying jet engines, has named a new CEO to head its business in the country.
The group replaced Scott Bayman, its India chief executive officer for 14 years, with Tejpreet Singh Chopra, according to an e-mailed company statement received here on 22 May.
Bayman occupied the post in the early stages of India’s economic reforms and is ending his tenure at a time when the country has become the world’s second-fastest growing economy.
“We, at GE, are committed to being a growth partner to India by leveraging our diverse set of businesses to help the country meet some of its priorities and contribute to India’s economic development,” said Bayman in the statement.
“I am happy to have been a part of GE’s growth journey in India.”There was no immediate word on Bayman’s future plans.
GE, whose presence in India ranges from power generation to plastics and financial services, installed the country’s first hydropower plant in 1902 and all of its units do business in the country of 1.1 billion people.
The company earned $1.9 billion in revenue in 2006 in the country where it has 13,000 people.
Chopra, a 10-year GE veteran, is currently the president and chief executive officer of GE Commercial Finance in India. His tenure as CEO of the group in India begins on 1 June and he will report to GE International president Ferdinando Beccalli-Falco.