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GENERAL ELECTRIC COMPANY (GE)
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General Electric Company : Andy Holt to Lead GE’s Growing Renewable Energy Services Group

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04/25/2012 | 09:49pm CET
25 April 2012
Andy Holt to Lead GE's Growing Renewable Energy Services Group
  • Supports GE Strategy to Help Customers Boost Production and Revenues

  • Services a Key Part of GE's Investment in the Future of Renewables
  • Holt Takes New Post after 16 Years with GE

DALLAS, TEXAS-April 25, 2012-GE (NYSE: GE) has named 16-year company veteran Andy Holt to be general manager, Renewable Energy Services at GE Energy. Andy will lead the growing wind and solar services segment of GE's Renewable Energy business, underscoring GE's commitment to help customers increase power production and revenues from their installed equipment.

"With his strong leadership skills, extensive knowledge of services operations and his years of experience within GE Energy, Andy will play a key part in driving strategic growth for our services business globally," said Vic Abate, vice president of GE's Renewable Energy business.

GE more than doubled its investment in services research and development in both 2010 and 2011 as it continues to expand upon a world-class portfolio of services. GE's wind service solutions incorporate the company's advanced technology, global resources and service facilities and a network of skilled, highly trained local technicians who are closely connected to GE's engineering organization. GE long-term service agreements give customers access to GE's suite of wind turbine upgrades that are based on technology evolution and product expertise.

Holt makes the move to the renewables team from his most recent role as general manager for service operations within GE Oil & Gas based in Florence, Italy. There he led a 1,500-person operations team responsible for field service, repairs and parts fulfillment, as well as safety, quality and technical training.

Holt joined GE in 1996 after nine years as a pilot and flight instructor in the U.S. Navy. He brings to his role in renewables more than 16 years of experience in supply chain optimization, service business fulfillment and commercial operations in a variety of previous roles including marketing, quality and operations in both services and new equipment businesses. He holds a bachelor's degree in mechanical engineering from Rensselaer Polytechnic Institute and will relocate with his family to Schenectady, N.Y.

About GE

GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.

GE Energy works connecting people and ideas everywhere to create advanced technologies for powering a cleaner, more productive world. With more than 100,000 employees in over 100 countries, our diverse portfolio of product and service solutions and deep industry expertise help our customers solve their challenges locally. We serve the energy sector with technologies in such areas as natural gas, oil, coal and nuclear energy; wind, solar, biogas and water processing; energy management; and grid modernization. We also offer integrated solutions to serve energy- and water-intensive industries such as mining, metals, marine, petrochemical, food & beverage and unconventional fuels.

Follow GE Energy on Twitter @GE_Energy.

PRESS CONTACTS
Ken Darling
Masto Public Relations
+1 518 786 6488
[email protected]

Beth Coffman
Masto Public Relations
+1 518 786 6488
[email protected]

Katelyn Buress
GE Power & Water
+1 518 385 3545
[email protected]

GE news
Masto Public Relations
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Financials ($)
Sales 2017 124 B
EBIT 2017 8 808 M
Net income 2017 7 225 M
Debt 2017 68 291 M
Yield 2017 4,98%
P/E ratio 2017 25,68
P/E ratio 2018 18,96
EV / Sales 2017 1,80x
EV / Sales 2018 1,67x
Capitalization 155 B
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Mean consensus HOLD
Number of Analysts 16
Average target price 21,5 $
Spread / Average Target 21%
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Managers
NameTitle
John L. Flannery Chairman & Chief Executive Officer
Daniel Janki Treasurer & Senior VP-Global Operations
Jamie S. Miller Chief Financial Officer
Jim Fowler Chief Information Officer
Victor Abate Chief Technology Officer & Senior Vice President
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