General Electric named Sue Siegel, CEO of GE Ventures, chief innovation officer for GE, effective immediately.
As chief innovation officer, Siegel will be responsible for developing and accelerating GE’s long-term innovation strategy and will report directly to GE Chairman and CEO John Flannery.
In this role, Siegel will continue to lead GE Ventures, which is comprised of equity investing, licensing and new business creation. She will also serve as a member of the company’s capital allocation and portfolio management governance; and help expand the company’s efforts to grow, incubate, and accelerate horizontal, adjacent and transformational businesses.
John Flannery, chairman and CEO of GE, said, “Sue combines operational excellence with an entrepreneurial mindset to identify and unlock new value for GE. Her ability to spot new market opportunities; develop new business models, partner with the entrepreneurial ecosystem; and help make market-backed capital allocation decisions has made GE stronger. I look forward to working with Sue on the next chapter of growth at GE.”
Siegel has 30+ years of experience in the corporate and venture capital world as a business innovator, leader, operator, and venture capitalist. Sue trained as a biochemist and molecular biologist, earning her M.S. from Boston University.