GE Capital appoints new CEO for Asia

AP News
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Posted: Nov 24, 2009 1:49 PM

GE Capital, the financial business of General Electric Co., announced Tuesday the appointment of a new president and CEO of GE Capital's business operations in Asia Pacific.

Steve Sargent will oversee operations for GE Capital in the region, which is headquartered in Tokyo. He is taking the job formerly held by John Flannery, who has been promoted to run GE's operations in India.

Sargent, 49, is president and CEO of GE for Australia and New Zealand. He also is president and CEO of GE Capital for Australia and New Zealand.

In addition, Sargent, who has worked at GE for 16 years, was president and CEO of GE European Equipment Finance from 2000 to 2003.

He will continue to head GE Capital ANZ until a successor is appointed and will remain national executive at GE ANZ with his new Asia Pacific role.

Shares of GE, based in Fairfield, Conn., rose 12 cents, to $16.14 in afternoon trading.