GE Aims for First Week Jan 2023 for GE HealthCare Spinoff

GE has announced its GE HealthCare spinoff’s first board of directors and declared it is targeting the first week of January 2023 for the independent firm’s spinoff date.
 
H. Lawrence Culp, Jr., Chairman and CEO, GE, and CEO, GE Aerospace, will be non-executive chairman of GE HealthCare. Peter Arduini, CEO of GE HealthCare, will also serve as a Director.
 
GE also released the names of eight additional board members:
 
“I am thrilled with the group we have assembled to serve on GE HealthCare’s Board of Directors,” Culp told the press. “These directors are highly experienced and energized by GE HealthCare’s mission and opportunities ahead. They bring a diverse range of perspectives and backgrounds to support the company’s ambitions, including deep industry knowledge in patient care and healthcare systems, capital allocation experience to support organic and inorganic growth, management and financial expertise, and digital innovation leadership.”
 
Culp continued, “With this initial group of Directors, we have a highly qualified and capable Board that will enable GE HealthCare to hit the ground running. The team is building significant momentum and targeting a spin-off during the first week of January, and having our Board in place represents a critical milestone on this path.”
 
Arduini said, “As we seek to lead the new era of precise, connected, and compassionate care, GE HealthCare will begin its life as an independent company with a best-in-class Board and team. The group we are assembling brings a strong understanding of the safety, quality, innovation, and trust that our customers expect from GE, as well as fresh thinking for our journey forward. We’re excited to launch GE HealthCare in January as a standalone company leading precision health innovation.”
 
Beyond Culp and Arduini, the following directors will be appointed to GE HealthCare’s board:

• Dr. Rodney F. Hochman, president and CEO of Catholic not-for-profit Providence.
• Lloyd W. Howell, Jr., CFO and treasurer of Booz Allen.
• Dr. Risa Lavizzo-Mourey, professor at the University of Pennsylvania from 1986 until 2021.
• Catherine Lesjak, 32-year financial veteran of HP including CFO from 2007-2018.
• Anne T. Madden, senior VP and general counsel at Honeywell.
• Dr. Tomislav Mihaljevic, presiden and CEO of Clevelend Clinic.
• William J. Stronberg, director of T. Rowe Price Group.
• Phoebe L. Yang, GM of Amazon Web Services, Healthcare.