Russell Stokes named President and CEO of GE Power

Takes over from the retiring GE Power President and CEO Steve Bolze

Will combine GE Power and GE Energy Connections into one business

BOSTON–(BUSINESS WIRE)–GE (NYSE: GE) announced today that Russell Stokes, current president and
CEO of GE Energy Connections, has been named president and CEO of GE
Power, effective July 3, 2017. He succeeds Steve Bolze, the former
president and CEO of GE Power, who has announced his decision to retire.
In his new role, Mr. Stokes will lead the integration of the legacy GE
Power and Energy Connections businesses into one, power-focused unit
called GE Power.

“Russell brings a strong combination of operational, industrial and
energy experience to this role, and can now scale his leadership skills
with the combined GE Power and GE Energy Connections,” Jeff Immelt,
chairman and CEO of GE, said. “Bringing these two businesses together,
we saw an opportunity to align our global customer base, create a common
strategy, and leverage synergies to simplify our structure. Since taking
the role at Energy Connections, Russell has led the integration of
Alstom Grid and planned disposition of Industrial Solutions. He has a
keen sense of the market, and knows how to invest in technology ahead of
the curve.”

Mr. Stokes is a 20-year GE veteran. For the past 18 months, he has led
Energy Connections. Prior to this role, Mr. Stokes was president and CEO
of GE Transportation, where he delivered the best year in the history of
the business. He has also held senior roles in GE Lighting and GE
Aviation, and across a variety of functions, including finance,
sourcing, services, and operations. Mr. Stokes graduated from Cleveland
State University with a degree in finance and has completed GE’s
Financial Management Program.

Mr. Stokes’s appointment comes after Steve Bolze, the former president
and CEO of GE Power, announced his retirement. Mr. Bolze has spent 24
years at GE, and led GE Power for the last 11 years. During his tenure,
Mr. Bolze helped build the world’s leading power business – overseeing
the historic launch of the HA gas turbine in 2015, the world’s most
efficient gas turbine; leading the acquisition and integration of
Alstom, GE’s biggest industrial acquisition in history; and transforming
the Power business with digital capability both internally and in its
products and services.

“For the past eleven years leading Power, Steve has been a tireless
advocate for our customers and GE,” Jeff Immelt, chairman and CEO of GE,
said. “He has a relentless passion for the business, and is a great
builder of teams and talent. As an experienced operating leader, Steve
has overseen the transformation of our energy portfolio, and leaves
Russell with a strong foundation to build upon. I want to thank Steve
for his years of dedication and his valuable contributions to GE.”

The new, combined GE Power business, consisting of the legacy GE Power
and Energy Connections businesses, will drive better customer focus,
fewer redundancies and lower costs. For 2Q ’17, the GE Power and Energy
Connections business will report quarterly results as separate
businesses, combining as one reporting entity in 3Q ’17.

Caution Concerning Forward-Looking Statements:

This document contains “forward-looking statements” – that is,
statements related to future events that by their nature address matters
that are, to different degrees, uncertain. For details on the
uncertainties that may cause our actual future results to be materially
different than those expressed in our forward-looking statements, see http://www.ge.com/investor-relations/disclaimer-caution-concerning-forward-looking-statements as
well as our annual reports on Form 10-K and quarterly reports on Form
10-Q. We do not undertake to update our forward-looking statements. This
document also includes certain forward-looking projected financial
information that is based on current estimates and forecasts. Actual
results could differ materially.

About GE

GE (NYSE: GE) is the world’s Digital Industrial Company, transforming
industry with software-defined machines and solutions that are
connected, responsive and predictive. GE is organized around a global
exchange of knowledge, the “GE Store,” through which each business
shares and accesses the same technology, markets, structure and
intellect. Each invention further fuels innovation and application
across our industrial sectors. With people, services, technology and
scale, GE delivers better outcomes for customers by speaking the
language of industry. www.ge.com

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