Effective July 5, GE will reorganize its 11 businesses into six industry-focused businesses: GE infrastructure; GE Industrial; GE Commercial Financial Services; NBC Universal; GE Healthcare; and GE Consumer Finance. New vice-chairmen will lead three of the businesses: Dave Calhoun, 48, Infrastructure; Michael Neal, 52, Commercial Financial services: and John Rice, 48, Industrial.

As vice chairmen of the company, they will act as advisors to the GE Board of Directors. All three are experienced GE leaders and currently presidents, and CEOs of GE businesses.

In GE Healthcare, Joe Hogan has been named President and CEO. He will succeed Bill Castell when Castell retires from Healthcare in 2006, in accordance with his wishes. GE's Healthcare business will continue to be based in London. "Bill has brought tremendous vision to our Healthcare efforts and will continue to be an important part of our leadership team", Immelt said.