General Electric [GE] on Tuesday announced the future board of directors for GE Aerospace with current GE Chairman and CEO H. Lawerence Culp retaining the same roles at the aerospace business when it launches in 2024.
In addition to Culp, the 10-member board of GE Aerospace will include current GE directors Thomas Horton, who will serve as lead independent director, Isabella Goren, a former chief financial officer of American Airlines
and AMR Corp., Catherine Lesjak, a former CFO and interim CEO of Hewlett Packard, and Darren McDew, a retired Air Force General and former commander of U.S. Transportation Command. McDew also serves on several other boards, including Parsons Corp. [PSN].
Thomas Enders, who at one time led European aerospace and defense giant Airbus Group, and Margaret Billson, a director for CAE and previous president of the engine business at BBA Aviation, will join GE’s board on Dec. 1 and then transition to the board of GE Aerospace.
The additional future GE Aerospace Board members include Stephen Angel, currently chairman of Linde plc, and the future chairman of GE Vernova, which is the energy and power business that GE will spin out in early 2024. Angel is also a member of the U.S.-China Business Council.
Sebastien Bazin, chairman and CEO of AccorHotels, and Edward Garden, chairman and CEO of Garden Investments, were also named as directors of GE Aerospace.
The tax-free spin-off of GE Aerospace and GE Vernova is planned for the beginning of the second quarter of 2024. GE Aerospace will continue to trade using the “GE” stock ticker symbol. GE earlier this year spun-off its healthcare business.
“Our team of GE Aerospace directors is best-in-class,” Culp said in a statement. “I’m proud to work alongside this group of experts in commercial aerospace, defense, global affairs, and business leadership, all in service of our customers as we shape the future of flight.”
GE Aerospace plans to host an investor day in New York City on March 7, 2024.
GE also said that Jesus “Jay” Malave, Lockheed Martin’s [LMT] CFO, will join GE Vernova as a director. Malave was CFO of L3Harris Technologies [LHX] before joining Lockheed Martin.