GE Appliances CEO Blankenship Leaving Post
June 21 2017 - 10:09AM
Dow Jones News
By Justina Vasquez
GE Appliances Chief Executive Chip Blankenship will leave his
post at the end of 2017, an announcement that comes about a year
after China's Haier Group completed its purchase of the former
General Electric Co. unit.
The company said Kevin Nolan, vice president and chief
technology officer at GE Appliances and Haier subsidiary Qingdao
Haier, will serve as its next CEO.
Mr. Blankenship began his career with GE in 1992.
GE Appliances said earlier this year it plans to cut
manufacturing costs for some of its major appliances to better
compete with long-time U.S. rivals and emerging Asian competitors.
It may also cut employee wages amid a battle with unionized workers
at its Kentucky manufacturing plant, which the company said is
losing hundreds of millions of dollars per year.
Haier bought GE's appliance unit last year for $5.4 billion in a
bid to expand its global manufacturing reach and have access to the
U.S. market. It is now the second-largest manufacturer of white
goods in the U.S. GE Appliances generated $6.4 billion of revenue
in 2016.
Haier also appointed Melanie Cook as chief operating officer and
Rick Hasselbeck as chief commercial officer. Ms. Cook had been the
company's vice president of sourcing, and Mr. Hasselbeck was chief
marketing officer.
Write to Justina Vasquez at justina.vasquez@wsj.com
(END) Dow Jones Newswires
June 21, 2017 10:54 ET (14:54 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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