GE’s Jim Campbell to Remain with Appliances

Last week, the Wall Street Journal reported speculation that GE would sell their Appliance business. EdisonReport can now confirm that Jim Campbell, CEO of Consumer Products, will stay with the Appliance Business and Lighting. Mr. Campbell has graciously sat down with your humble editor for the past five LIGHTFAIRs and we are not aware if he is coming to the 2008 event in Las Vegas.

GE Appliances is part of GE Industrial’s Consumer & Industrial division, which also includes the lighting and electrical distribution businesses. We are told that those units will remain part of GE’s industrial platform. Both businesses are global and fit well with GE’s environmental initiative, ecomagination. GE Appliance was mainly a local US business.

GE is is currently considering three possibilities for the appliance business: a strategic partnership or joint venture; spin off; or the sale of the business. Last week, the rumor mill speculated that G had hired Goldman Sachs Group Inc. to explore options that include a spinoff or auction. The Wall Street Journal reported a sale may bring $5 billion to $8 billion.