STAMFORD, CT-General Electric is said to be evaluating potential successors to GE Capital Chairman and CEO Michael A. Neal, who reportedly is expected to step down as early as this summer.
Neal's expected departure was reported by people familiar with the matter in the Wall Street Journal. Neal has served as chairman and CEO of GE Capital for the past eight years. Neal joined GE in 1979 on the industrial side of the company before moving to the financial business in 1987. He helped lead the company to its peak in 2007 and has since guided the firm through the recession and has helped stabilize its finances in recent times.
Spokesman Gary Sheffer comments on the report of Neal's planned departure, "Mike is an excellent leader of GE Capital. The business continues to perform very well. We don't speculate on future scenarios." See story in the Wall Street Journal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
