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General Electric Co. shuffled some top management Friday in a move that renewed speculation about who will succeed Chairman and chief executive John Welch as head of the nation’s most valuable company.
Among those promoted were W. James McNerney Jr., 47, who runs GE’s lighting business. He will replace Eugene Murphy as head of GE’s aircraft engines unit, a larger business. McNerney has been touted among investors and securities analysts as a leading contender in the race for Welch’s job.
The value of GE’s stock increased more than 17 times since Welch took over in 1981. However, investors aren’t fretting about who will succeed a man considered to be among the best chief executives in the United States.
