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Issue #591

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Terminal Operators

Air Cargo Quarterly

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2014 Media Kit

GE names China CEO to integrate Alstom’s power assets

By: | at 12:37 PM | Intermodal  

General Electric Co said on Thursday that the president and CEO of its China business will lead the integration of the U.S. conglomerate’s proposed acquisition of the power assets of France’s Alstom.

Alstom agreed late last month on a $16.9 billion deal with GE, ending a two-month saga in which the French government intervened in the deal and Siemens and Mitsubishi Heavy Industries mounted a rival bid. The deal is expected to close in 2015.

Mark Hutchinson, who has been president and chief executive officer of GE Greater China for the past three years, will move to Paris as integration leader of the Alstom deal, GE said in a press release.

Hutchinson’s “deep knowledge of GE and experience in global markets make him the right person for this important role,” GE Vice Chairman John Rice said in the release.

GE appointed Rachel Duan, who has led GE Healthcare China since 2010, to replace Hutchinson in the top China role.