I find myself intrigued by the news that General Electric executive Joe Hogan has left for ABB. It’s a time-honored tradition, of course, to pluck chief executives from the management ranks of GE. But it also comes at an interesting time for GE. Hogan is the second senior exec to leave GE in recent weeks, with former GE Aviation head Scott Donnelly also leaving to join Textron.
I wonder if the moves are less a sign of discontent in the ranks of GE—as the stock continues to struggle—and more a sign of greater pressure to perform within GE.
Hogan is a contemporary of GE chief executive Jeff Immelt. He took over the business where Immelt made his greatest mark—GE Healthcare. While Hogan did well the last quarter, though, he has presided over some tough times at the $14 billion unit. This is a business that’s supposed to shine. John Dineen, Hogan’s successor, likely has to ramp up results.
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