GE hires Zingoni as CEO of power business

General Electric Co has appointed Mavi Zingoni as head of its power unit, which includes its gas, steam, and nuclear power operations, according to an internal document reviewed by Reuters on Tuesday.

Zingoni, executive managing director of client and low carbon generating business at Spanish energy giant Repsol (OTC:REPYY), will take over on Jan. 1 and be located in the U.S. She will report to Scott Strazik, who manages the company's energy businesses.

GE did not respond to a request for comment.

Zingoni joins when the industrial conglomerate is about to split into three public firms.

GE plans to separate its healthcare business in January. It will spin off its energy sector in 2024 into a new stand-alone firm that combines power, renewable energy, and digital units.

Zingoni confronts the challenge of guiding GE's power division amid supply chain and inflationary challenges.

The electricity division, which accounted for 23% of company sales last year, is one of the corporation's most problematic. It hasn't reported a revenue gain in years.

In the first half of this year, the unit noticed a decline in orders. The company intends to earn a profit this year with low single-digit revenue growth.