BOSTON: Vice chair Beth Comstock will depart GE at the end of this year after a career of nearly two decades at the company.
Comstock is exiting the role to "discover what’s next," she wrote in a post on LinkedIn. She also plans to publish a book next year. Comstock created a video thanking her GE colleagues on the professional social media platform.
"I love [GE], its people, and purpose," Comstock wrote. "I am proud to have been a part of shaping its future, and worked with an amazing team."
Comstock’s departure is one of several senior management changes at GE as John Flannery succeeds Jeffrey Immelt as chief executive. It appointed Jamie Miller as CFO, effective November 1, as current financial chief Jeffrey Bornstein departs. Fellow vice chair John Rice will also leave the company at the end of this year, according to CNBC.
In 2015, Comstock was the first woman to obtain the title of vice chair at GE. She oversees GE Business Innovations, which develops new businesses, markets, and service models to drive brand value and engage partners. The unit includes GE Lighting, GE Ventures and Licensing, and GE sales, marketing, and communications, according to her LinkedIn profile.
Comstock joined GE in 1998 as VP of corporate communications. In 2003, she was named GE’s first CMO in more than a decade. In 2005, she left GE for just over two years to serve as president of integrated media at NBC Universal. Comstock rejoined GE in March 2008 as its marketing chief.
Under Comstock’s leadership, GE’s brand value has grown to more than $44 billion, the company said in a statement.
GE saw drops in both profit and revenue in the second quarter. Profit was down 53% in the period to $1.4 billion, while revenue dipped 12% to $29.6 billion, according to the Associated Press.