The Wall Street Journal reported, citing people familiar with the matter, that General Electric is evaluating potential successors to GE Capital chief Michael A. Neal, as the conglomerate prepares for a change at the top of what would by itself be the country’s fifth-largest commercial bank.
The Journal said that Neal, who has held the position of chairman and chief executive of GE Capital for eight years, is expected to step down as early as this summer.
The Journal notes that the move will be the first major leadership transition at GE Capital since the financial crisis upended its business and is another signal that the finance operation is now on more stable footing.
To read the Wall Street Journal story click here.
No tags available
The FASB designed the new lease accounting rules to be as neutral as possible to companies’ financial results. It maintained the current risks and rewards framework for classification, separately reporting the operating lease asset and liability, and kept the profit... read more
The Greek philosopher Heraclitus said, “Change is the only constant in life.” Though most of us resist change, we also yearn for it. Which brings us to the topic of today’s lending environment and its frustrating lack of change. When... read more