Boston, December 22, 2017 - GE (NYSE: GE) announced today that Alec Burger, president and CEO of GECAS, has been named the President of GE Capital, reporting to GE CFO Jamie Miller effective January 2, 2018.
Burger succeeds Richard Laxer who will retire from GE on March 31, 2018, after 33 years at the company. Starting in the company’s financial management leadership program in 1984, Laxer grew to lead many GE Capital businesses in the US, then in Asia, and Europe. During his time as chairman and CEO of GE Capital, Laxer has pivoted the business to align with GE’s industrial businesses and customers.
John Flannery, chairman and CEO of GE, said, “Rich has been a dedicated and respected member of GE’s leadership team with a strong track record of driving growth and delivering results. He has built strong, customer and investor focused teams. We are grateful for his service to the company.”
Rich Laxer, chairman and CEO of GE Capital, said, “I am incredibly grateful to have spent more than 33 years with this great company, and I am deeply honored to have had the opportunity to lead GE Capital. Alec and I have worked together for more than 20 years. He is a strong partner, a great leader, and the right person to take Capital forward.”
Burger joined GE in 1991 and was named a GE officer in 2007. He has built GE Capital’s businesses in both North America and Europe, holding key leadership and business development roles, and leading several major strategic real estate acquisitions. During his last two years at GECAS, the business has performed at record levels. He previously served as President and CEO of GE Capital Real Estate, where he oversaw the unit’s $38 billion portfolio. Alec led the Real Estate team through its strategic disposition, which was the first big deal in the successful transformation of GE Capital.
Jamie Miller, CFO of GE, said, “Alec has been with GE for 26 years and has a proven record of growing businesses and talent, globally. He will bring this experience to the entire GE Capital portfolio to deliver for our customers and shareholders.”
Burger will continue to also serve as the President and CEO of GECAS.
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
GE Media Contact:
Jennifer Erickson
+1 312 241 8903
Jennifer Erickson
GE Corporate
[email protected]
+1 646 682 5620