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
Active members of the equipment leasing and finance industry are often familiar with the super-priority rule contained in Article 9 of the UCC. Under certain circumstances, this rule allows a party that takes possession of chattel paper in connection with... read more
The last calendar year has been marked by turbulence. From the gutter war of a Presidential election to Brexit to the continued downturn in the energy sector, there has not been much stable ground to be found. Even above the... read more