GE Appoints Repsol’s Zingoni as Power CEO – Memo

The logo of U.S. conglomerate General Electric is seen on its corporate building in Belfort, France, on October 19, 2019. REUTERS/Vincent Kessler

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LONDON/CHICAGO, Sept 20 (Reuters) – General Electric Co (GE.N) has hired Mavi Zingoni to head its power unit, which includes natural gas, Steam and nuclear power business.

Zingoni, who was executive managing director of customers and low-carbon power generation at Spanish energy group Repsol (REP.MC), will take over on January 1. 1 will be headquartered in the United States, the memo said.

GE did not immediately respond to a request for comment.

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She joins as the industrial conglomerate prepares to split into three publicly traded companies.

GE plans to spin off its healthcare business in January. It will spin off its energy business into a new independent company in 2024 that will combine power, renewable energy and digital divisions.

Zingoni faces the challenge of navigating GE’s power business through ongoing supply chain and inflationary pressures.

The power business, which accounted for about 23% of the company’s revenue last year, is one of the company’s most challenging businesses. It hasn’t reported revenue growth in years.

In the first half of the year, orders for the division also fell. However, the company expects to be profitable this year with lower revenue growth.

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Reporting by Andres Gonzalez in London and Rajesh Kumar Singh in Chicago; Editing by Richard Pullen

Our Standard: The Thomson Reuters Trust Principles.

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