GE chairman and CEO Jeff Immelt announced the appointment of Alec Burger as president & CEO of GE Capital Real Estate. He succeeds Mark Begor, who was named as president & CEO of GE Energy Management.

The CEO appointments are effective immediately.

A 23-year GE veteran, Burger was president of GE Capital Real Estate’s North America division prior to the recent appointment. “Alec is the right leader to take over GE Capital Real Estate as we continue to increase lending volume in this valuable real estate debt franchise and shrink its equity book,” Immelt said.

Begor is a 33-year GE veteran and has served as president & CEO of GE Capital Real Estate since 2011. He joined GE in 1980 on GE’s Financial Management Program and was a member of the GE audit staff. In successive years, Begor held a number of leadership roles in GE Plastics, was GE’s head of investor relations, and served as CEO of GE Capital Retail Finance for 9 years. In that position, Begor doubled business.

“Mark has led a terrific turnaround at GE Real Estate, returning the business to profitability ahead of plan and growing its lending volume,” Immelt said. “His broad operating experience and focus will be a real asset in Energy Management as they develop advanced technology solutions to help solve the efficiency challenges of our energy partners.”