Greg Conlon has been promoted to president and CEO of aviation lessor GECAS, effective immediately. Alec Burger will continue as president and CEO of GE Capital while serving as chairman of GECAS.

This change in leadership is being done to ensure the continued strength and health of GECAS, with Conlon being fully dedicated to leading the GECAS business alongside Burger’s continued engagement as chairman.

“Greg is an experienced leader with deep and positive relationships across the industry and GE and a personal track record of performance. It’s my distinct pleasure to promote such a great GE leader to the helm of GECAS,” said Burger. “It has been and will continue to be a privilege to be a part of GECAS, however now is right time in the evolution of GECAS to have Greg as the dedicated leader of the business. As president and CEO, Greg will bolster GECAS’ position as the business continues to deliver for our global customers.”

“I’d like to recognize Alec for his mentorship, friendship and support,” said Conlon. “While Alec continues his focus on the broad GE Capital portfolio, I am grateful that he will be staying on as GECAS’ chairman, where he will stay involved in strategic decisions and ensure a seamless transition. I am truly excited to lead such a team of talented, collaborative, and customer-focused professionals as we have at GECAS.”

Conlon has been with GE for 20 years and is a highly respected leader in the aviation financing industry. He is ideally positioned for this role, with a career history including experience in capital markets, asset trading, OEM management, sales, debt financing and P&L leadership.

“GECAS remains a strategically important and critical part of GE Capital,” Burger added, “I am excited to see it continue to thrive under Greg’s leadership.”