H Lawrence Culp Jr has been named chief executive officer of GE Aviation, effective immediately, in addition to his current role as chairman and CEO of GE. Current GE Aviation president and CEO John Slattery has been named executive vice president and chief commercial officer of the business.

Culp Jr says: “GE Aviation is an exceptional business in growing commercial and military sectors that is shaping the future of flight. There is tremendous opportunity in aviation over the coming years, and the board and I decided it is the right time for me to take on this expanded role and work even more closely with the team to support our customers, meet the unprecedented demand ramp and prepare for GE Aviation's future as an independent public company.”

GE lead independent director Tom Horton adds: “Larry's extensive operating track record is particularly valuable to lead GE Aviation through historic industry growth while also preparing to become an independent, investment grade public company. The board and I are confident Larry and the GE Aviation leadership team will continue to strengthen this premier franchise and drive lasting growth for its employees and shareholders.”

Slattery says: “It has been an honour leading GE Aviation over the last two years. I am excited to be part of a tremendous leadership team as we move closer to launching as a standalone business. Customers and our industry partners are at the centre of everything we do at GE Aviation, and I look forward to continuing to dedicate my time to them and ensuring we provide the best possible support as the industry accelerates its recovery.”

Current GE senior vice president and GE Aviation Services president and CEO Russell Stokes has been named president and CEO, commercial engines and services with expanded operational responsibility for GE Aviation's largest segment.

Stokes, who will lead GE Aviation's commercial equipment and services business, has more than 25 years of GE experience, including nine years at GE Aviation during his career. Stokes re-joined GE Aviation in 2020 following executive leadership roles across multiple GE divisions.

Culp says: “Russell has demonstrated exceptional leadership of our commercial services business, strengthening its operational performance while serving unprecedented customer demand and navigating a dynamic external environment. I'm excited to work more closely with him as he expands to lead commercial equipment and services, the largest business segment within Aviation.”

Stokes adds: “This is an exciting time to be part of GE Aviation. We are embracing the power of lean and innovative technologies to drive operational performance and manage our new engine production and aftermarket ramps. We have an impressive product portfolio and a talented global team committed to our customers' success.”

Otis Worldwide Corp executive vice president and chief financial officer Rahul Ghai has been named chief financial officer of GE Aviation as current CFO and chief operating officer Shane Wright prepares to retire after 34 years of service. Ghai will start as CFO of GE Aviation on 15 August and Wright will ensure a smooth transition and retire later this year.

At Otis Ghai oversaw accounting, FP&A, investor relations, internal audit, tax and treasury. Over his tenure as CFO, which included Otis' spin off from United Technologies and launch as a standalone public company, he helped the company deliver more than 30 per cent adjusted EPS growth and margin expansion of 100 bps between 2019 and 2021, while significantly reducing working capital. Prior to Otis, Ghai was senior vice president and CFO of Harris Corporation, where the company grew EPS and free-cash-flow by more than 80 per cent and more than 45 per cent respectively over his tenure, including significant working capital reduction and greater than 100 per cent cash conversion ratio each year. The Harris stock price roughly tripled during this period. In addition, while at Harris, Ghai played an integral role in the successful $40 billion merger with L3 Corporation, including follow on divestitures. Ghai also served in executive-level finance roles at Aetna and United Technologies Corp.

Culp says: “Rahul's proven track record as a public company CFO, including with major transaction and spin off experience in relevant markets, will be a strong asset for our aviation team. I look forward to his partnership as we work to continue to deliver exceptional financial, operating and technical performance. It's a pleasure to welcome Rahul to the GE team.”

Ghai says: “I have long admired GE Aviation's extraordinary team and innovative technology, and I am thrilled to join the company at this pivotal time. I look forward to working closely with Larry and the team as we prepare GE Aviation for this monumental next chapter.”

Culp adds: “Shane's financial acumen, operational focus, talent development and mentorship, and extensive business experience have been invaluable to GE over his 34 years with our company. Shane's many contributions across GE and to GE Aviation have helped build this world-class business and team, and I'm deeply grateful to him for his service.”

Slattery, Stokes and Ghai will report directly to Culp. These leadership changes follow GE's 9 November, 2021 announcement of its plan to separate GE into three independent, investment-grade companies focused on the growth sectors of aviation, healthcare and energy.