GE CEO and chairman to step down

General Electric Co. CEO Jeff Immelt will be replaced in the role by GE Healthcare executive John Flannery on Aug. 1, the Boston-based company announced June 12.

Immelt will retire from the company entirely, including in his role as chairman, on Dec. 31, GE (NYSE: GE) said. Flannery will take over the chairman role on Jan. 1, as well.

Flannery, 55, is a 30-year veteran of GE. In his most recent role as CEO and president GE Healthcare, he spurred a turnaround that saw the subsidiary’s revenue…

GE CEO and chairman to step down syndicated post

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