Acquisition Leads To GE Power

Nov. 17, 2015
GE Power & Water and Alstom Power combine to form GE’s largest digital industrial business, GE Power.

GE announces that with the completion of its Alstom acquisition, GE Power & Water and Alstom Power have combined to form GE Power. Headquartered in Schenectady, Steve Bolze, will serve as president and CEO of GE Power, leading more than 65,000 employees in over 150 countries with estimated revenue of $30 billion.

“We now offer utility and industrial power plant operators even more complete, customized ‘one-stop shop’ solutions—not just for developing new stations but also optimized life cycle support for existing facilities to support local energy security,” says Bolze.

GE Power six businesses and line of leadership are:

• Power Services headquartered in Baden, Switzerland, and led by Paul McElhinney.

• Gas Power Systems headquartered in Schenectady and led by Joe Mastrangelo.

• Steam Power Systems headquartered in Baden, Switzerland, and led by Andreas Lusch.

• Distributed Power headquartered in Jenbach, Austria, and led by Lorraine Bolsinger.

• GE Hitachi Nuclear Energy headquartered in Wilmington, North Carolina, and led by Jay Wileman, succeeding Caroline Reda who will now head up Power Services’ North America region.

• Water & Process Technologies headquartered in Trevose, Pennsylvania, and led by Heiner Markhoff.

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