© Reuters. FILE PHOTO: General Electric Co. Chief Executive Officer Larry Culp mingles with shareholders at the company’s annual meeting in Tarrytown, New York, U.S., May 8, 2019. REUTERS/Alwyn Scott/File Photo
(Reuters) -General Electric Co said on Monday Chief Executive Larry Culp will expand his role to head the aviation unit, replacing John Slattery, who will become its chief commercial officer.
In this additional role, he will face the challenge of navigating GE Aviation, an engine supplier to Boeing (NYSE:) Co and the company’s cash cow, through supply chain disruptions and price pressures at a time when planemakers are ramping up production to meet travel demand.
Since becoming CEO in 2018, Culp has worked to pare down the company’s debt pile, cut costs and simplify the operations. The company last year announced it would break up into three companies focused on aviation, healthcare and energy.
“The Board and I decided it is the right time for me to take on this expanded role,” Culp, who will retain his responsibilities as GE’s chairman, said in a statement.
The company also named Otis Worldwide (NYSE:) Corp executive Rahul Ghai as the aviation unit’s chief financial officer in place of Shane Wright, who is set to retire.
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