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General Electric Replaces CEO John Flannery, Stock Rebounds 12%

Samuel Prince
General Electric Replaces CEO John Flannery, Stock Rebounds 12%

On October 1, Boston-based industrial giant General Electric (GE) announced the appointment of H. Lawrence Culp as its chairman and CEO. The former head of Danaher (DHR) replaced John Flannery, whose 14-month tenure as GE’s CEO ended when the board of directors voted him out. GE’s board of directors also appointed Thomas Horton as the lead director of the company.