General Electric (GE) has appointed Dan Janki to lead the group’s treasury operations, succeeding Kathy Cassidy, who is retiring later this year after 35 years at GE.
The US multinational, whose headquarters is in Fairfield, Connecticut, added that Mark Begor, who currently leads GE Capital’s Real Estate business, will succeed Janki as president and chief executive (CEO) of GE Energy Management. Alec Burger, currently North America leader for GE Capital Real Estate, will succeed Begor as president & CEO of GE Capital Real Estate.
The CEO appointments are effective immediately and the formal treasury transition will be effective by the end of this month.
Janki has been president and CEO of GE Energy Management since 2012. In this role, he brought together a new GE business and refocused its product portfolio and business footprint. Janki began his career with GE in 1992 in the financial management programme and subsequently joined the GE Audit staff. He has held several senior finance positions within the company, including chief financial officer (CFO) of GE Equity, CFO of GE Money-Americas, head of GE investor relations and CFO for GE Energy before leading energy management.
Begor is a 33-year GE veteran and has been president and CEO of GE Capital Real Estate since 2011. He joined GE in 1980 on GE’s financial management programme and was a member of the GE audit staff. He has experience in both the industrial and capital businesses, including leadership roles at the National Broadcasting Company (NBC). He held several leadership roles in GE Plastics, including the head of global sourcing and leader of GE Petrochemicals. He was also GE’s head of investor relations. In 2002, Begor joined GE Capital as CEO of Retail Finance where he doubled the business during his nine years as CEO.
Burger will succeed Begor as president and CEO of GE Capital Real Estate. A 23-year GE veteran, Burger is president of GE Capital Real Estate’s North America division. He is responsible for commercial real estate lending and investing throughout the US, Mexico and Canada. Prior to his current role, he was managing director of GE Capital Real Estate United Kingdom and quality leader at GE Capital Solutions. Prior to joining GE’s corporate business development division in 1991, Burger worked for Bain and Company.
Kathy Cassidy will retire later this year after successfully leading GE’s treasury operation since 2001. She will support Janki’s assimilation into the treasury leadership role and will continue to manage the treasury aspects of the Synchrony Financial initial public offering (IPO) planned for this summer.
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