GE announced that long-time company executive John Rice will come out of retirement to lead the company’s gas power business.
The move was one of several new senior leadership changes as the company reorganizes its troubled power portfolio.
The company recently announced that it would reorganize GE Power into two businesses—GE Gas Power, which includes gas power systems and power services, and GE Power Portfolio, comprised of the steam, grid solutions, nuclear, and power conversion businesses. The company also said it would consolidate Power’s headquarters structure in order to create a more simplified business structure.
Rice, a retired GE vice chairman, will return to GE to serve as the chairman of the GE Gas Power business. He left the company at the end of 2017 shortly after former CEO John Flannery took over from Jeffrey Immelt. Rice left along with Beth Comstock, who led strategy for new business at GE and shortly after CFO Jeff Bornstein.
In this new role, GE said Rice will leverage his global reach, knowledge of GE’s gas customers and management experience to advise the GE Gas Power leadership team as it establishes itself as a standalone unit. Rice retired from GE after 39 years of service to the company. Over the course of his career, he led GE Energy, GE Transportation, GE’s Global Growth Organization (GGO) and GE’s Corporate Audit Staff. Rice’s mentorship of the GE Gas Power leadership team and experience in the industry will position this business and the team for success, the company said.
Scott Strazik, who is currently president of Power Services, has been named the chief executive officer of GE Gas Power business. Strazik has more than 18 years of operations and leadership experience. Prior to his current role in Power Services, Strazik held senior leadership roles in GE’s Gas Power Systems business including leading the Sales and Commercial Operations work as well as serving as the chief financial officer. He graduated from Cornell University with a degree in Industrial Labor Relations and received a master’s degree from Columbia University’s School of International and Public Affairs with a focus on Economics and Public Policy.
Russell Stokes, the current CEO of GE Power, will be chief executive officer of GE Power Portfolio. Russell is a 20-year GE veteran. Prior to this role, Stokes led GE Energy Connections, GE Transportation and held senior roles in GE Aviation. He started his career in GE Lighting and has worked across a variety of functions, including finance, sourcing, services, and operations.
GE said the new senior leadership team will report directly to GE Chairman and CEO H. Lawrence Culp, Jr.
“One of my top priorities is positioning our businesses to win, starting with GE Power,” Culp said. “The leaders we are announcing today are exceptionally well suited to lead our new Gas Power and Power Portfolio teams in their efforts to deliver better customer outcomes and improve their execution and cost structures. I am confident this is the right strategy and the right team to lead these businesses forward.”
Culp added, “I look forward to working with John as he returns to GE and Scott and Russell in their new roles. This strong team of leaders will set up the power businesses to win.”