NEW YORK: General Electric Co (GE) has agreed to keep chief executive officer Larry Culp in the top job at the aerospace manufacturer through at least 2027, removing him from the field of potential candidates to be Boeing Co’s next CEO.
Culp could helm the company, which operates as GE Aerospace, through 2028 if he and the board agree, the company said in a securities filing.
The extension comes after Culp orchestrated a multi-year turnaround of the former conglomerate, culminating with the April spinoff of its energy-related businesses.
That left GE Aerospace, the world’s largest maker of jet engines, as the remaining company. It separated its healthcare division in 2023.
The former Danaher Corp CEO’s existing contract at GE Aerospace was set to expire in August. He had been seen as a candidate to succeed Boeing’s Dave Calhoun, who has said he plans to step down by the end of the year.
He joins the ranks of other executives who have removed themselves from consideration for Boeing’s top job, narrowing the list of viable candidates.
American Airlines Group Inc chairman Greg Smith, a former chief financial officer at Boeing, was also a candidate until taking himself out of the race last month, according to a person familiar with the matter. — Bloomberg
