July 3 General Electric Co said on
Thursday that the president and CEO of its China business will
lead the integration of the U.S. conglomerate's proposed
acquisition of the power assets of France's Alstom.
Alstom agreed late last month on a $16.9 billion deal with
GE, ending a two-month saga in which the French government
intervened in the deal and Siemens and Mitsubishi
Heavy Industries mounted a rival bid. The deal is
expected to close in 2015.
Mark Hutchinson, who has been president and chief executive
officer of GE Greater China for the past three years, will move
to Paris as integration leader of the Alstom deal, GE said in a
Hutchinson's "deep knowledge of GE and experience in global
markets make him the right person for this important role," GE
Vice Chairman John Rice said in the release.
GE appointed Rachel Duan, who has led GE Healthcare China
since 2010, to replace Hutchinson in the top China role.
(Reporting by Lewis Krauskopf; Editing by Jan Paschal)