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Wednesday, July 13, 2011

GE O&G Names New CEO

- GE O&G Names New CEO

Wednesday, July 13, 2011
GE Energy

GE Energy, which has grown from $29 billion in revenue to over $40 billion since 2006, announced that Dan Heintzelman, currently CEO of GE Energy Services, has been named CEO of GE Oil & Gas. Heintzelman succeeds Claudi Santiago, who has served as CEO of GE Oil & Gas for the last 12 years and is retiring from GE in December.

"Claudi Santiago has led GE Oil & Gas during a period when it became a global leader in its industry," said GE Chairman and CEO Jeff Immelt. "Claudi's strategy of investing wisely in core technology and expanding into areas to provide more complete solutions for our customers proved to be the right one for GE and investors."

Immelt also stated, "Dan Heintzelman is exactly the right leader to succeed Claudi at Oil & Gas. Dan is one of GE's most experienced business leaders and brings a unique mix of operational excellence and customer focus to the role."

Steve Bolze, CEO of GE Power & Water, will now lead an expanded portfolio with the addition of Power Generation Services (formerly part of Energy Services) to the Power & Water business. With both the equipment and services businesses under his leadership, Bolze will lead a global organization that delivers full lifecycle solutions for power generation customers.

Dan Janki, currently GE Energy's chief financial officer, has been named CEO of the newly formed business within Energy, GE Energy Management. This business will consist of technology solutions for the delivery, management, conversion and optimization of electrical power for customers across multiple energy-intensive industries. Janki will be succeeded as Energy chief financial officer by Lynn Calpeter, currently chief financial officer for NBC Universal.

John Krenicki, GE vice chairman and CEO of GE Energy, said, "We have built an Energy business that is broader, deeper and more diverse than at any time in its 100+ year history. Just in the last few months, we've announced $11 billion of acquisitions, significantly expanding our portfolio, global footprint and capabilities. We have an opportunity right now to take advantage of the breadth and scale of our capabilities and ultimately deliver better solutions for our customers. And we are fortunate to have the bench strength in our leadership team to support this mission."

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