David Joyce, vice chair of GE and president and CEO of GE Aviation, will retire from the company after 40 years of service.

John Slattery, Embraer’s president and CEO of Commercial Aviation, was named president and CEO-elect, effective July 13. At GE Aviation, Slattery will run the provider’s commercial and military jet engines and services, as well as avionics, digital solutions and electrical power systems for aircraft.

“An icon in the aerospace industry, David has been a driver of innovation and the decisions made under his leadership will continue to manifest for decades,” H. Lawrence Culp, Jr., chairman and CEO of GE, said. “His greatest legacy may be the thousands of leaders he has mentored and developed throughout his career.

“We worked hard to find a worthy successor to David. In John, we have found a proven aerospace leader whose international commercial experience, strategic acumen and industry expertise can make our aviation franchise even stronger.”

Joyce spent his entire career at GE Aviation, including 12 years as its president and CEO. He invested in the business to enable a renewal of its product portfolio, including 10 different engine families.

“My career at GE has been a lifelong gift I will always cherish,” Joyce said. “It has been a blessing to work alongside incredible GE colleagues and great customers around the world. I have always been surrounded by a culture that places a premium on harnessing the collective knowledge of such bright and talented people. I will be forever grateful for the opportunities GE gave me to learn and grow both professionally and personally.”

John Slattery led Embraer’s largest business, Commercial Aviation, typically accounting for more half of the group’s revenue and free cash flow as well as about 10,000 of its 18,000 employees.

“I have long considered GE Aviation to be the leading aviation franchise in the world and I am humbled to take the helm from David and lead this talented team forward,” Slattery said. “This is a time of unprecedented change in the aerospace industry yet also an opportunity to re-imagine the future of flight and how we can best serve our customers.”

In order to ensure a smooth and thorough handover, Slattery will fully assume the role of president and CEO of GE Aviation on Sept. 1, 2020, at which point Joyce will transition to non-executive chair of GE Aviation through Dec. 31. Joyce also will continue as GE vice chair and advisor to GE Research through Dec. 31, and subsequently will serve as strategic advisor to GE Aviation into 2021.