A Question General Electric Holders Will Be Asking Today: Who Is John Flannery?

Patience pays off after all.

After 30 years with General Electric Company GE, GE Healthcare Limited CEO and President John Flannery is about to inherit all of corporate leadership.

Effective Aug. 1, Flannery, 55, will succeed retiring CEO Jeffrey Immelt, who will retain his role as chairman through the end of the year before relinquishing it to Flannery.

"John is the right person to lead GE today," Immelt said in a Monday press release. "He has broad experience across multiple businesses, cycles and geographies. He has a track record of success and led one of our most essential businesses. Most important are his strong leadership traits — good judgment, resilience, a learner, team builder and a tough-minded individual and competitor."

A History Of Success

Under his most recent title, Flannery led GE’s healthcare division to a 5-percent rise in organic revenue and 1-percent margins peak in 2016. According to his company bio, he also bolstered the unit’s digital and technological capabilities, particularly through the launch of Sustainable Healthcare Solutions, to reinforce the company as a leader in industry technology.

As senior vice president of GE’s corporate business development, he oversaw the acquisition of Alstom and partook in the sale of GE Appliances, Synchrony Financial initial public offering and contraction of GE Capital.

An alumnus of both Fairfield University and the University of Pennsylvania’s Wharton School, Flannery previously served as CEO and president of GE India Services Holding Limited, where he boosted industrial sales by 50 percent in 2011, and led GE Capital’s Asia Pacific line to earnings spikes of 100 percent in Japan, 30 percent in Korea and 25 percent in Australia. He also held a three-year term as president and CEO of GE Equity.

GE shares spiked as much as 5.5 percent in Monday futures trading on the company's announcement.