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GE Capital CEO Neal May Step Down, Wall Street Journal Reports

May 30, 2013, 07:15 AM
Filed Under: Industry News

Bloomberg Businessweek said that according to a Wall Street Journal report, General Electric is evaluating successors to Michael Neal, who may step down as chief executive officer and chairman of GE Capital as soon as this summer.

The management shift would come as General Electric CEO Jeffrey Immelt shrinks GE Capital and focuses growth on the company’s industrial operations. A spokesman for GE Capital declined to comment when contacted by Bloomberg News.

Neal joined GE’s industrial business in 1979 before moving to the financial unit in 1987.

To read the full Bloomberg Businessweek report, click here.

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