GE shares power up as it names new vice chair


(MENAFN- ProactiveInvestors)

General Electric (NYSE:GE) shares rose as it has has for the first time named a woman as its vice chair.

Beth Comstock 55 joined broadcaster NBC almost two decades ago just as GE was buying it and became GE's vice president of corporate communications in 1998.

She currently leads GE’s Business Innovations unit focused on accelerating growth from new businesses and those in transition.

Jeff Immelt GE chairman and chief executive said: "Beth has a proven reputation inside and outside GE for transforming the enterprise and being a catalyst for digital innovation and growth."

"She has spearheaded our investment in the Industrial Internet - driving our evolution to a digital industrial company. Her passion for change and innovation is critical to our growth strategy.”

Also today GE announced it had won more than $1billion in orders from customers across the Asia Pacific region demonstrating it said the growing demand for its power generation systems and software.

"Rapid economic growth across Asia Pacific has led to the demand for power to soar fuel prices to rise and environmental and financial regulations to tighten.

"As a result generators are looking for ways to improve efficiency and flexibility while reducing costs and environmental impact and they are increasingly turning to companies such as GE" it said.

GE shares added 12.57% today to stand at US$21.39.


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