Company to reorganize

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Thursday, June 23, 2005 | 9:30 a.m.

FAIRFIELD, Conn. -- General Electric Co. said today it will reorganize the company's 11 businesses into six industry-focused groups, and has named three new vice chairmen.

The company will be realigned into GE Infrastructure; GE Industrial; GE Commercial Financial Services; NBC Universal; GE Healthcare and GE Consumer Finance. Dave Calhoun, 48, will lead the Infrastructure group, Michael Neal, 52, will head up Commercial Financial Services and John Rice, 48, will lead the Industrial group.

GE said that as vice chairmen of the company, the executives will act as advisers to the board. All three are currently presidents and CEOs of GE businesses.

In GE Healthcare, Joe Hogan has been named to succeed Bill Castell as president and CEO when Castell retires in 2006. GE's Healthcare business will continue to be based in London.