GE hires Mavi Zingoni to head power business

Mavi Zingoni of GE Power

General Electric (GE) has hired Mavi Zingoni to head the company’s power unit, which comprises its gas, steam and nuclear power businesses, Reuters news report said.

Zingoni, who served as executive managing director of client and low carbon generation business at Spanish energy group Repsol, will report to Scott Strazik, who heads GE’s energy business.

Mavi Zingoni will take over on Jan. 1 and will be based in the United States, according to an internal memo.

Mavi Zingoni joins at a time when the industrial conglomerate is preparing to split into three public companies.

GE plans to separate its healthcare business in January next year. It will spin off its energy business in 2024 into a stand-alone company, known as GE Vernova, which would combine power, renewable energy and digital units.

Mavi Zingoni faces the challenge of navigating GE’s power business through persistent supply chain and inflationary pressures.

The power business, which accounted for about 23 percent of company revenue last year, is one of the company’s most challenging businesses. GE’s power business has not reported a revenue growth in years.

GE’s power business saw a drop in orders in the first half of this year. However, the company expects it to report a profit this year with low single-digit revenue growth.