GE Healthcare’s CEO John Dineen to step down

October 6, 2014, 4:06 PM UTC
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GE Healthcare is changing up its leadership Monday, with current president and CEO John Dineen stepping down, effective immediately.

The top role will be filled by John Flannery, who was most recently the senior vice president of business development for GE, the company said.

The leadership shift is the latest to take place under chairman and CEO Jeff Immelt. Over the past 15 months, Immelt replaced top leaders at GE Capital and GE Oil & Gas and named Jeff Bornstein as the new chief financial officer of GE.

Dineen led the $20 billion health unit for seven years and worked within GE (GE) for 28 years. He previously held senior positions in GE Industrial Systems, Plastics, Transportation and Healthcare. Dineen is leaving the company to explore “new leadership opportunities,” according to the statement.

“John successfully led GE Healthcare during a period of growth, portfolio diversification and market volatility,” Jeff Immelt, GE chairman and CEO, said. “Thanks to his leadership, the business today is a global leader.”

GE Healthcare is the world’s leading manufacturer of medical imaging devices and also specializes in medical diagnostic tools and healthcare IT and software.

Flannery has been a key deal maker at GE this past year. He had a central role in GE’s recent purchase of France-based Alstom’s energy and transmission business as well as the spinoff of the company’s retail finance division, Synchrony Financial (SYF), which went public this year. He was also previously president and CEO of GE India and a senior leader at GE Capital.