Miami University

GE CEO Immelt to speak at Miami

10/21/2005

Jeffrey R. Immelt, chairman and CEO of General Electric, will speak at 4 p.m. Thursday, Nov. 17, in Miami University's Hall Auditorium as part of the Executive Speaker Series sponsored by the Richard T. Farmer School of Business.

His talk, free and open to the public, is expected to focus on why environmentally friendly business practices are good for the bottom line.

Immelt’s speech will include a description of GE’s ambitious environmental initiative that calls for aggressively developing new technologies to meet the world’s need for cleaner, more efficient sources of energy, reduced emissions and clean water. Called “ecomagination,” the plan includes a pledge to reduce pollution from GE products and to more than double research and development spending - from $700 million to $1.5 billion annually - on cleaner technologies.

“It’s no longer a zero-sum game,” said Immelt in announcing the initiative in May. “Things that are good for the environment are also good for business.”

GE, he explained, is not only concerned about environmental issues such as global warming, but is convinced that greater capability in green technologies will accelerate GE’s economic growth. The company aims to double revenues from cleaner technologies in the next five years, from $10 billion in 2004 to at least $20 billion in 2010.

Immelt, a Cincinnati native and graduate of Finneytown High School, was chosen in 2000 to succeed GE’s CEO Jack Welch and named president and chairman-elect. In 2001, he became only the 9th chairman of GE in the firm’s 126 year history. A graduate of Dartmouth College with an MBA from Harvard University, he joined GE in 1982 and held a series of positions leading to global leadership roles in GE’s plastics, appliance and medical divisions, including serving as president and CEO of GE Medical Systems from 1997 to 2000.

GE’s worldwide operations generated revenues of more than $150 billion in 2004. Its 11 divisions offer a broad range of products and services, from jet engines and turbines to light bulbs, from financial services to media services. For more information, call 529-6114 or visit the business school’s Web site.