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GE Energy Financial Services announces leadership changes

General Electric Co. subsidiary GE Energy Financial Services on June 14 announced the retirement plans of industry leaders Kevin Walsh and Timothy Howell.

Walsh founded the unit's renewable energy segment in 2006 and has held several leadership roles across GE Capital and GE. After serving the company for more than 36 years, he plans to retire in the first quarter of 2019.

Howell most recently led the unit's U.S. equity and co-development investing activities. He started his career in GE's Power unit and has been with GE for over 34 years. He plans to retire at the end of 2018.

Walsh and Howell agreed to stay for an extended time to ensure a smooth transition, according to a news release.

GE Energy Financial Services also named three incoming leaders taking on new roles.

Gaurav Raniwala was appointed the new global renewable energy leader. Raniwala joined GE in 1995 and most recently served as business partner at GE Energy Financial Services.

Susan Flanagan was named global power leader, where she will manage the unit's global power investment activities. She joined GE in 2005 and most recently served as business partner at GE Energy Financial Services.

Raghuveer Kurada was named global capital advisory leader. He will oversee third-party capital raising activities, including GE's relationships with export credit agencies, development financial institutions and other debt and equity capital providers globally. He joined GE in 1993 and most recently served as managing director for GE Energy Financial Services' Global Markets execution teams.

GE Energy Financial Services said it is seeking to reduce the size of its asset base to support a more focused GE Capital and continues to invest in and structure third-party financial solutions for power and renewable energy customers.