GE Names New Head of Aviation Unit

After a 40 year career at General Electric's (NYSE: GE) Aviation unit, David Joyce has announced his retirement. He will be replaced by John Slattery, president and CEO of Commercial Aviation at Brazilian plane maker Embraer (NYSE: ERJ). Joyce spent the last 12 years as president and CEO of GE Aviation. 

GE Chairman and CEO Larry Culp called Joyce an icon in the aerospace industry, saying, "David's leadership has established GE Aviation as the world's foremost aircraft engine franchise." Culp was named CEO of GE in October 2018. It's notable that Culp is replacing Joyce with an outsider as the aerospace industry struggles from both the Boeing (NYSE: BA) 737 Max grounding and the impacts from the COVID-19 pandemic crisis. 

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Source Fool.com