GE Power CEO announces resignation, combined business


SCHENECTADY, N.Y. (NEWS10) – The former CEO of the power plant in Schenectady has officially stepped down.

Along with this shakeup comes a new combined GE business that will affect the power plant.

“Job losses would have a tremendous impact,” Jose Fernandez, Former GE Power employee and union member, said.

Former GE Power CEO Steve Bolze announced his retirement on Wednesday after he lost his bid for company CEO.

The new GE Power CEO Russell Stokes walked into the power company just as GE announced the combination of two key businesses.

Under Stokes, GE will combine its power company headquartered in Schenectady with GE Energy Connections in Atlanta.

The combined company will be the biggest gem in the GE crown in terms of revenue generated.

Stokes led the energy connections business in Atlanta.

No word on where the combined company will be headquartered or if headquarters are moving at all.

Right now, there is no change to employment.

Fernandez says this Schenectady plant cannot take more job cuts.

“I think it would be detrimental to the area. I think people don’t realize how important it is for that plant to be there and what impact it has, not just with union workers, but for salary workers.”

Most workers say they were too nervous to comment on camera, but one manufacturing floor worker agreed to speak on the phone. He asked for his identity to be kept private.

“The bottom line is that if GE is losing money, then they will cut jobs and that’s what we’re always worried about. We’re optimistic but we’re also pessimistic at the fact that we don’t know what he’s going to do.”

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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