Keith S. Sherin to Retire from GE after 35 Years of Service; Richard A. Laxer to Lead GE Capital
August 30 2016 - 8:45AM
Business Wire
GE announced today that Richard A. Laxer, GE Capital
International president and CEO, will lead GE Capital effective
September 1, 2016 as president and CEO. Keith S. Sherin, GE vice
chairman and GE Capital chairman and CEO, will retire from GE
effective December 31, 2016.
Keith Sherin, 57, led the successful transformation of GE
Capital into a smaller, more focused company after a career in
business leadership positions across GE, including 15 years as GE
Chief Financial Officer. Richard Laxer, 55, started his career in
GE’s Financial Management Program in 1984 and has held leadership
positions in Finance and later as CEO of major GE Capital
businesses around the globe. He has been the leader of GE Capital’s
international operations since 2009 and has been named a senior
vice president of GE.
Jeff Immelt, GE chairman and CEO, said, “We are very fortunate
to have an executive of the caliber of Rich Laxer to succeed Keith
Sherin in leading GE Capital. Rich has a long and distinguished
track record of leadership at GE and is ideally suited to lead GE
Capital in its new role supporting GE’s industrial growth.”
GE Capital going forward will consist of three global
businesses, GE Capital Aviation Services (GECAS), GE Energy
Financial Services and GE Industrial Finance, all of which support
the growth of GE’s industrial businesses and customers.
Regarding Keith Sherin’s contributions to GE, Jeff Immelt said,
“For 35 years, Keith has dedicated himself to the General Electric
Company. As a vice chairman, he has had a direct influence on the
company’s direction, its financial health and its position as the
world’s premiere digital industrial company. During his 15 years as
GE CFO, Keith served with utmost integrity and provided a
thoughtful steady voice as we navigated a world of volatility.”
“Since April 2015, Keith has led the flawless execution of our
strategy to reposition GE Capital. I thank Keith immensely for his
relentless passion for 35 years to do right by all – our
shareholders, customers and employees. Keith is a special leader,
immensely talented yet humble. In the history of GE, few can match
his impact.”
About GE
GE (NYSE:GE) is the world’s Digital Industrial Company,
transforming industry with software-defined machines and solutions
that are connected, responsive and predictive. GE is organized
around a global exchange of knowledge, the "GE Store," through
which each business shares and accesses the same technology,
markets, structure and intellect. Each invention further fuels
innovation and application across our industrial sectors. With
people, services, technology and scale, GE delivers better outcomes
for customers by speaking the language of
industry. www.ge.com
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Media:GEDavid Lurie,
+1-646-682-5618David.Lurie1@ge.com
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