24 Jun GE promotes Milwaukee-area CEO to London position
GE announced on Thursday that Joe Hogan, head of GE Healthcare Technologies in Waukesha, will become president and CEO of GE Healthcare in London next year as part of the parent company’s effort to reorganize its 11 divisions into six.
Hogan will succeed Bill Castell as head of GE Healthcare in 2006. Hogan has served as president and CEO of the Waukesha-based GE Healthcare Technologies division since 2000, when he succeeded Jeff Immelt after Immelt’s promotion to succeed Jack Welch as head of GE.
The Milwaukee division accounts for about $11 billion of the $14 billion that GE Healthcare produced last year, according to its annual report.
GE said the reorganization is expected to save the company $200 million to 300 million through the elimination of redundancies.
Effective July 5, GE will also operate five other businesses: GE Infrastructure; GE Industrial; GE Commercial Financial Services; NBC Universal; and GE Consumer Finance.