GE Capital names next CEO

Officials at General Electric Co. announced June 12 that Keith Sherin will be succeeding Mike Neal as the chairman and CEO of GE Capital.

GE Capital, which is based in Norwalk, is the commercial lending and leasing division of GE.

For 14 years, Sherin has served as GE’s CFO and been a member of GE Capital’s Board of Directors. Since 2007, he has also served as the company’s vice chairman.

“Keith is one of the most respected CFOs in the world,” Jeff Immelt, GE CEO, said in a release. “He is a trusted colleague and a smart business partner. As a vice chairman of GE, he has played an integral role in defining our growth strategy, implementing our compliance programs and delivering value to our shareowners.”

Neal, whom Sherin will replace, held the CEO position for the past six years and spent 34 years with GE in total. Neal said he plans to retire July 1.

“Mike has led Capital for six years with a steady hand, a deep knowledge of markets and a focus on delivering results for Capital and for GE,” Immelt said. “Mike and his team helped keep GE Capital safe and secure and transformed it into a more focused and valuable business that is an important part of GE”™s future. We are all grateful to Mike for his many contributions to our company.”