GE's chairman Jeff Immelt retires earlier-than-expected

Oct 2 (Reuters) - U.S. industrial conglomerate General Electric Co's chairman Jeff Immelt retired earlier-than-expected on Monday, with the company naming Chief Executive John Flannery as his replacement.

Immelt, who was expected to retire by the end of this year, had resigned as GE's CEO in June amid amounting pressure from activist-investor Nelson Peltz's Trian Fund Management for operation changes.

GE said Immelt also retired as director and chairman of the board of directors of Baker Hughes, a GE company.

Baker Hughes' CEO Lorenzo Simonelli will succeed Immelt as chairman of the company's board.

W. Geoffrey Beattie was also appointed as lead independent director at Baker Hughes, GE said.

Beattie was CEO of the Woodbridge Co, the Thomson family company that controls news and financial information provider Thomson Reuters Corp.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Martina D'Couto)

RELATED: The most stressful U.S. tech companies

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The most stressful US tech companies
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The most stressful US tech companies

No. 10: SAP

% High Job Stress: 65%

Mid-Career Median Salary: $143,000 

Photo credit: Reuters 

No. 9: Intel

% High Job Stress: 65%

Mid-Career Median Salary: $126,000 

Photo credit: Reuters 

No. 8: GoDaddy

% High Job Stress: 67%

Mid-Career Median Salary: $99,000 

Photo credit: Getty

No. 7: Fujitsu

% High Job Stress: 68%

Mid Career Median Salary: $108,000 

Photo credit: Getty

No. 6: Uber

% High Job Stress: 70%

Mid Career Median Salary: $149,000 

Photo credit: Reuters 

No. 5: Tesla Motors

% High Job Stress: 71%

Mid Career Median Salary: $110,000 

Photo credit: Reuters 

No. 4: Samsung

% High Job Stress: 74%

Mid Career Median Salary: $135,000

Photo credit: Reuters 

No. 3: InsideSales

% High Job Stress: 75%

Mid Career Median Salary: $107,000

Photo credit: PayScale

No. 2: Airbnb

% High Job Stress: 75%

Mid Career Median Salary: $123,000 

Photo credit: Getty

No. 1: SpaceX

% High Job Stress: 86%

Mid Career Median Salary: $80,800 

Photo credit: Reuters

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