Ex-GE boss Jeff Immelt looks for redemption as chairman of a $5 billion health-care firm [CNBC]
GE Aerospace (GE)
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Source: CNBC
Andrew Harrer | Bloomberg | Getty Images Jeffrey Immelt Jeff Immelt , former CEO of global conglomerate General Electric , brings star power and a wealth of experience to his new role as chairman of the maturing health-care firm Athenahealth , analysts say. However, Wall Street also sees Immelt's move as a chance for redemption, after his departure from GE in the latter half of 2017 capped a rocky 16-year run at the helm that saw the stock lose about 38 percent of its value. George Hill, an analyst at RBC Capital Markets, believes Immelt could be a door opener and sales closer for Massachusetts-based Athenahealth. Immelt can also serve as a mentor and teacher to Athenahealth's young management team, Hill told clients in a note. In return, Immelt gets a chance to rehabilitate his image with the investment community. Athenahealth announced Immelt as its new chairman late Wednesday, and shares of the health-care cloud-based software
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