GE’s Immelt steps down, Flannery moves up amid Trian squeeze

JOHN FLANNERY WAS NAMED the new CEO of General Electric Co. following the announcement that Jeffrey Immelt is stepping down from his role as both CEO and Chairman. / BLOOMBERG FILE PHOTO/PRASHANTH VISHWANATHAN
JOHN FLANNERY WAS NAMED the new CEO of General Electric Co. following the announcement that Jeffrey Immelt is stepping down from his role as both CEO and Chairman. / BLOOMBERG FILE PHOTO/PRASHANTH VISHWANATHAN
NEW YORK - Jeffrey Immelt is stepping down as chairman and chief executive of General Electric Co., ending a 16-year tenure in which he dramatically reshaped one of the world’s top manufacturers yet struggled to win the approval of Wall Street. John Flannery, a 30-year GE veteran who currently heads up the health-care business, will…

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