GE Capital Aviation Services Appoints a New President and Chief Executive
Tuesday, 27 October 2015
Alec Burger president and CEO - GE Capital Aviation Services (GECAS)
NORWALK, Conn. – GE Capital Aviation Services (GECAS), the commercial aircraft financing arm of GE (NYSE: GE), today announced the appointment of Alec Burger, 52, as its president and CEO effective January 1, 2016.
Burger will take over the executive management of the business from Norman C.T. Liu, 58, who will stay on as chairman of GECAS until late 2016 when he will retire from GE.
Keith Sherin, GE Capital chairman and CEO said: “Alec has tremendous commercial skills, including a keen external focus and a track record of building strong customer relationships.
“He’s a terrific leader known for driving growth, developing talented teams and has a proven record of building GE Capital’s businesses across the globe. His structured finance skills and global mindset will serve him well in his new role at GECAS.”
Burger is a 25-year veteran of GE including 15 years at GE Capital Real Estate, where he last served as president and CEO, prior to the business being sold as part of GE’s transition. Burger joined Real Estate in 2000 as vice president of business development.
In 2002 he was named managing director of GE Capital Real Estate’s UK unit, and in 2007 became vice president of its North American business. Holding a bachelor’s degree in engineering and an MBA, Burger joined GE in 1991 from Bain and Company.
He served in a number of leadership positions both in the U.S. and England for GE Capital’s Equipment Leasing Business, including business development for European Equipment Finance, managing director, and subsequently Six Sigma leader for Vendor Financial Services. Burger was named a GE company officer in 2007.
As chairman of GECAS, Liu will provide strategic counsel and long-term planning support to Burger and the GE Capital board of directors. Under Liu's leadership as CEO over the past seven years, the GECAS annual revenues of over $5 billion and net income of over $1 billion on average on nearly $50 billion of assets. He also developed the company's product capabilities in syndicated debt/asset sales, regional/cargo aircraft, engine leasing/airframe parts, aircraft evaluation/aviation consulting and helicopters. Prior to GECAS, Liu held senior roles with GE Capital in M&A and capital markets.