Russell Stokes, current president and CEO of GE Energy Connections, has been named president and CEO of GE Power, effective from July 3, 2017. He succeeds Steve Bolze, the former president and CEO of GE Power, who has announced his decision to retire.
Stokes will lead the integration of the legacy GE Power and Energy Connections businesses into one, power-focused unit called GE Power.
This synergy will help us drive better customer focus, fewer redundancies and lower costs. For 2Q ’17, the GE Power and Energy Connections business will report quarterly results as separate businesses, combining as one reporting entity in 3Q’17.
GE Power is a world leader in power generation with deep domain expertise to help customers deliver electricity from a wide spectrum of fuel sources. We are transforming the electricity industry with the digital power plant, the world’s largest and most efficient gas turbine, full balance of plant, upgrade and service solutions as well as our data-leveraging software. Our innovative technologies and digital offerings help make power more affordable, reliable, accessible and sustainable.
Headquartered in Schenectady, New York, the sector is GE’s largest industrial business, with approximately USD27 billion in revenue in 2016 and more than 55,000 employees serving customers in more than 150 countries.
Russell Stokes is the president and chief executive officer of GE Energy Connections and senior vice president of GE. Energy Connections is GE’s electrification and automation business, bringing the world reliable, efficient energy that enables utilities and other customers to manage electricity from the point of power generation to the point of power consumption. It is an $11 billion global business with 45,000 employees who work across 150 countries.
As a 20-year GE veteran, Russell has a wide range of GE corporate and business unit leadership experience in addition to his deep industry, company and customer knowledge. Prior to leading Energy Connections, Russell was the president and chief executive officer of GE Transportation, a global leader in rail, mining and marine industries with annual revenue of USD6 billion and more than 12,000 employees globally.
Before taking the helm at GE Transportation, Russell led global services for the business where he created a customer- and quality-driven business focused on analytics and reliability. He worked on the transformation of GE Transportation’s service business launching RailConnect 360, a suite of ecosystem based solutions to drive impactful outcomes for global rail customers. Before joining GE Transportation, he was the general manager for GE Aviation’s global sourcing organization, responsible for the strategy and execution of $7 billion in global purchases, and was a member of GE’s Operating Council.
Russell Stokes has held numerous positions in finance for both GE Aviation and GE Lighting, ranging from business development to global financial planning and analysis. He started his career in sales for a PC manufacturer before joining GE.
In addition to his executive leadership, Russell plays an active role in the community. He is a member of the Metro Atlanta Chamber of Commerce Executive Committee and Public Policy Advisory Board, Usher’s New Look Board, the Atlanta Junior Achievement Executive Committee, and the Atlanta Committee for Progress Board. He was also a former member of World Business Chicago, The Economic Club of Chicago, and The Executive Club of Chicago. Russell graduated from Cleveland State University with a degree in finance and has completed GE’s Financial Management Program.