General Electrics has announced the appointment of Mavi Zingoni as the new CEO of their power business. In Her new role, She will head up the company's power unit, which comprises the gas, steam and nuclear power businesses. She will be reporting to Scott Strazik, who heads GE's portfolio of energy businesses.
Zingoni's appointment will be effective by January 1st 2023. Prior to GE, she was serving as executive MD of a client and low carbon generation business at Repsol.
"Her deep industry experience will play an important role in our future as we continue to work alongside our customers to accelerate the energy transition and work towards the planned spin-off GE Vernova," the company said in a statement.
Zingoni's appointment comes at a time when the industrial conglomerate is preparing to split its healthcare and energy businesses. The energy business would be spin-off into a stand-alone company called GE Vernova by 2024.
The power business, which accounted for about 23% of company revenue last year, is one of the company's most challenging businesses. It has not reported revenue growth in years.
In the first half of this year, the unit also saw a drop in orders. However, the company expects to report a profit this year with low single-digit revenue growth.
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