GE appointed him as CEO of Repsol’s Zingoni energy business


The logo of US conglomerate General Electric is seen on a company building in Belfort, France, October 19, 2019. REUTERS/Vincent Kessler

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CHICAGO/LONDON, Sept 20 (Reuters) – General Electric Co (GE) confirmed on Tuesday that it has hired Mavi Zingoni to lead the company’s energy unit, which includes gas, steam and nuclear power businesses.

Zingoni, who served as chief executive of consumer and low-carbon generation at Spanish energy group Repsol ( REP.MC ), will report to Scott Strzyk, who heads GE’s portfolio of energy businesses.

In the year She will be sworn in on January 1 and will be in the United States, according to an internal memo reviewed by Reuters, which first reported the appointment on Tuesday.

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Zingoni joins as the industry conglomerate prepares to split into three public companies.

GE plans to spin off its healthcare business in January next year. By 2024, GE will spin off its energy business into an independent company known as Vernova, which combines power, renewable energy and digital units.

“Her deep industry experience will play an important role in our future as we continue to work with our customers to accelerate the energy transition and on the proposed process with GE Vernova,” said a GE spokesperson.

Zingoni faces the challenge of navigating GE’s energy business through a continuous supply chain and inflation.

The energy business, which accounted for about 23 percent of the company’s revenue last year, is one of the company’s most challenging businesses. It has not shown revenue growth for years.

In the first half of this year, unit orders have declined. However, the company expects to report profit this year with low single-digit revenue growth.

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Reporting by Rajesh Kumar Singh in Chicago and Andres Gonzalez in London; Editing by Richard Pullin

Our Standards: The Thomson Reuters Trust Principles.



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