Tag Archives: Jeff Immelt

Business, Finance, Occupation & Industry

GE Names Jamie Miller Senior Vice President and Chief Information Officer

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By Business Wirevia The Motley Fool

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GE Names Jamie Miller Senior Vice President and Chief Information Officer

FAIRFIELD, Conn.–(BUSINESS WIRE)– GE today announced that Jamie Miller has been named senior vice president and chief information officer (CIO). In this role, Miller will lead the information technology teams across the company to further leverage technology to enable speed, growth and profitability.

Miller, 44, will report to Jeff Immelt, GE chairman and CEO. She will be based at GE global headquarters in Fairfield, CT.

“As a company doing business in nearly 160 countries, we have seen the growing strategic importance of information technology in enabling efficient operations and business processes,” said Immelt. “Jamie is the right person to lead this effort. She has a strong track record of building and developing high performing teams, delivering innovative business solutions, and partnering with global leaders in executing large scale transformational projects.”

Miller previously was vice president, controller and chief accounting officer for GE, where she led a globally distributed GE controllership team comprised of about 3,500 accountants. Prior to joining GE in 2008, she served as the senior vice president, chief accounting officer and controller of WellPoint, Inc. She was also a partner with PricewaterhouseCoopers LLP, where she served in a number of roles including Financial Services leader for the Chicago practice. Miller also served as vice president, corporate controller and chief accounting officer at Genworth Financial (formerly GE Financial Assurance).

Miller graduated from Miami University in Oxford, Ohio, in 1990 with a B.S. degree in Accountancy. She is a Certified Public Accountant and is a member of the American Institute of Certified Public Accountants.

In the CIO role, Miller succeeds Charlene Begley, who has taken a leave of absence for personal health reasons.

Jan Hauser, partner in the Accounting Consulting Services department of the PricewaterhouseCoopers National Professional Services Group, will succeed Miller as vice president, controller and chief accounting officer for GE. She is a respected presence in the accounting community, having served as an SEC fellow, and playing strategic roles with key standard-setting bodies.

GE (NYS: 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.

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Source: FULL ARTICLE at DailyFinance
Business, Finance, Occupation & Industry

Infrastructure To Lead GE Dividend Growth Ahead

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By 24/7 Wall St.

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General Electric Co. (NYSE: GE) was making key dividend news this morning because in the Jeff Immelt annual letter to shareholders the company promised $18 billion to be returned to shareholders this year via dividends and stock buybacks. What was not clear was how it was going to get there.

GE is a true conglomerate, but the standout area of the report that is going to drive this capital will be infrastructure orders. GE has significant assets to divest (or which could be divested). Another big boost will come from continued improvements in GE Capital returning money to the parent company. Still, infrastructure is going to perhaps be the key driver of growth when you break out what GE includes here.

GE Chairman and CEO Jeff Immelt said in his annual letter that about $60 trillion of infrastructure investment is needed by 2030 to support the billions of new consumers joining the middle class in the emerging world and to support developed-market productivity. Immelt said, “About one-third of our infrastructure revenues comes from businesses we weren’t in a decade ago. These include fast-growth businesses like Oil & Gas, Life Sciences, and Distributed Power.”

Industrial is a huge area and Immelt said that services represent about 75% of GE‘s industrial earnings. He even claimed a $157 billion of service backlog, and included that GE will lead in the shale gas revolution. Immelt also said, “At $100 billion of revenue with 15% margins, we are the largest and most profitable infrastructure company in the world.”

On that capital plan, GE plans to buy back shares to get the total share count below 10 billion shares so that it is where it was back before the financial crisis. Immelt has already said that he plans to allocate a significant portion of the NBCU cash sale proceeds to repurchase shares. All in all, GE plans to return $18 billion to investors this year through dividend and buyback.

As it stands now, GE‘s dividend budget is close to $8 billion in the capital plan. Buying down the outstanding shares is one thing and $10 billion compared to a market cap of about $245 billion is a decent sum of shares being bought up off the market. That being said, a higher dividend represents a significantly more confident stance over a multi-year period.

GE shares are down 0.8% at $23.58 shortly before the close. The annual letter and capital plan are not the culprit behind the drop in GE shares. A downgrade from Nomura to Neutral from Buy did the damage today, although we would make not that GE‘s share price was within 15-cents of a multi-year high.

Filed under: 24/7 Wall St. Wire, Conglomerates, Dividends & Buybacks, Infrastructure Tagged: GE

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Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

1 Investor Strategy for Finding Companies That Win

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By Brendan Byrnes, The Motley Fool

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The Motley Fool’s chief investment officer has selected his No. 1 stock for the next year. Find out which stock it is in the brand-new free report: “The Motley Fool’s Top Stock for 2013.” Just click here to access the report and find out the name of this under-the-radar company.

Brendan Byrnes: Do you think investors can look at companies that are using these strategies, and say, “These may be a better investment, down the road?” Can this be a tool for investors as well, when looking at the stock market?

Roger Martin: Absolutely. I really think that it’s a way of analyzing companies and just asking yourself the question, from the outside — you’ll never have as much information as the insiders but you can still analyze it — and say, “Well, where are they playing? Do they have a proposition that actually is winning with the customers?”

I give Jeff Immelt a bunch of credit. I think he inherited a company that maybe had had a Where to Play that expanded a little bit too much, and maybe wasn’t as precise about its How to Win. I think he’s trimming back on areas that are less advantaged, for him.

Good businesses — NBC Universal, a great business — but it fits better with Comcast . When the deal closes, it’ll be fully at Comcast. GE Capital , which became a more sprawling empire of things that really worked well and didn’t work so well has been shrunk back …

Brendan: Got in a little bit of trouble back in …

Roger: [laughs] In 2008? Absolutely.

I think investors, hopefully, are looking at that and saying, “Wow, that’s getting to be a more precise strategy, where we can understand why they’re playing where they are, and how they’re intending to win in each of those places,” and would like that.

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To watch the full interview with Roger Martin, click here.

The article 1 Investor Strategy for Finding Companies That Win originally appeared on Fool.com.


Brendan Byrnes has no position in any stocks mentioned. The Motley Fool owns shares of General Electric Company. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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