The president and chief executive officer of GE Aviation, which has major operations in Lafayette and Terre Haute, has announced his retirement. General Electric Co. (NYSE: GE) says David Joyce, who also serves as vice chair of GE, will step down after 40 years with the company.
The company says John Slattery, president and CEO of commercial aviation for Brazil-based Embraer, will succeed Joyce beginning July 13. In his new role, Slattery will run the commercial and military jet engines and services, as well as avionics, digital solutions, and electrical power systems for aircraft.
“Over his remarkable career, David’s leadership has established GE Aviation as the world’s foremost aircraft engine franchise. An icon in the aerospace industry, David has been a driver of innovation, and the decisions made under his leadership will continue to manifest for decades. His greatest legacy may be the thousands of leaders he has mentored and developed throughout his career. GE Aviation’s foundation is strong thanks to his long-term vision to position our business and customers up for success,” said GE Chairman and Chief Executive Officer H. Lawrence Culp, Jr.
Joyce spent his entire career at GE Aviation, including 12 years as its president and CEO. GE says he strategically invested in the business to enable a complete renewal of its product portfolio, including 10 different engine families, resulting in groundbreaking improvements in fuel efficiency, emissions and noise.
Under Joyce’s leadership, GE Aviation became one of the company’s leading businesses. GE says the business doubled its revenue from $16.5 billion to $33 billion and industrialized advanced technologies across both commercial and military applications.
“My career at GE has been a lifelong gift I will always cherish. It has been a blessing to work alongside incredible GE colleagues and great customers around the world. I have always been surrounded by a culture that places a premium on harnessing the collective knowledge of such bright and talented people. I will be forever grateful for the opportunities GE gave me to learn and grow both professionally and personally,” said Joyce.
Slattery has held multiple roles at Embraer, including chief commercial officer and CEO of commercial aviation, as well as senior vice president of customer finance, risk, and asset management.
“I have long considered GE Aviation to be the leading aviation franchise in the world, and I am humbled to take the helm from David and lead this talented team forward. This is a time of unprecedented change in the aerospace industry yet also an opportunity to reimagine the future of flight and how we can best serve our customers,” stated Slattery.
In order to ensure a smooth transition, the company says Slattery will fully assume the role on September 1, at which point Joyce will transition to non-executive chair of GE Aviation through December 31.
GE Aviation says Joyce also will continue as GE vice chair and advisor to GE Research through December 31, and subsequently will serve as strategic advisor to GE Aviation into 2021.