GE appoints new CEO for Europe
Jan 17 (Reuters) - Industrial conglomerate General Electric
has appointed Peter Stracar chief executive and president
of its European region, the company said in a statement.
Stracar, has been chief executive of GE Central and Eastern
Europe since 2013, succeeds Mark Hutchinson, who the company
said was retiring from GE as of Jan. 1. (http://bit.ly/2mH0tZn)
The U.S. conglomerate, which launched a major rethink of its
business late last year, indicated on Tuesday it was looking
closely at breaking itself up as it announced more than $11
billion in charges from its long-term care insurance portfolio
and new U.S. tax laws.
Europe is the company's largest market outside the United
States and currently employs over 92,000 employees at over 900
locations across the region, generating revenues of more than
$20 billion. About 30 percent of GE's global patents are filed
(Reporting by Sanjana Shivdas in Bengaluru; editing by Patrick
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