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Vic Abate has been named CEO of GE Vernova’s wind business.
Courtesy of GE Vernova
General Electric
It has completed a management team for its power generation business and is set to be incorporated as a separate company in just a few months.
Thursday evening
General Electric
name of the thing Ken Parks is CFO of GE Vernova, the company’s power generation business. Vic Abate has been named CEO of GE Vernova’s wind business.
The pair will report to Vernova CEO Scott Strazyk. Eric Gray runs Vernova’s gas power generation business, while… There is no Zingoni Oversees conventional energy business. I came from
Repsol
(REP.Spain), a Spanish energy company.
Parks comes to General Electric from
Owens Corning
(OC) where he was CFO. “It is with great pleasure to welcome Beijing to the GE Vernova leadership team,” Strazyk said in a press release. “He brings unique and valuable experience gained over nearly 40 years working in finance.”
Abate’s new title is a bit of a promotion. He currently runs the onshore wind business for GE Vernova.
For investors, this is a sign that Vernova’s subsidiary is on the right track. GE Vernova is scheduled to be spun off as a separate company at the beginning of 2024.
General Electric Healthcare Technologies
GHEC was spun off from GE at the beginning of 2023. Once the Vernova spin-off is complete, GE will remain with its aviation franchise.
General Electric’s share rose by 0.5% in Friday’s trading, while General Electric’s share rose by 0.5% in Friday’s trading.
Standard & Poor’s 500
And
Dow Jones Industrial Average
It rose 0.2% and 0.4%, respectively.
Going into trading on Friday, GE stock is up nearly 70% so far this year. The post-pandemic recovery in the commercial airline industry and the plan to split the company into three parts made investors more optimistic.
GE HealthCare stock is up about 17% so far this year.
Shares of Owen Corning were flat in early trading. The company has appointed Todd Pfister as Chief Financial Officer. I’ve been with
Owens Corning
Since 2014.
Write to Al Root at allen.root@dowjones.com
(tags for translation) Energy
