General Electric announced NBC Universal stations chief Jay Ireland is leaving his role for President/CEO of GE Asset Management. GE, of course, is NBCU's parent company and where he previously worked as CFO of GE Plastics.
Ireland will move over in mid-July. NBC has not yet named a replacement.
In this new role, Ireland will become a member of GE's Corporate Executive Council and the GE Capital Board. He succeeds Ronald Pressman, who has been named president and CEO of GE Real Estate.
"Jay has a proven ability to build and lead world-class teams and drive success across organizations," said Keith Sherin, GE SVP and chief financial officer. "He brings a diverse set of accomplishments to his new role, including senior positions at NBC Universal and GE's Corporate Investor Communications, as well as senior financial leadership roles. Jay is an excellent choice to oversee the management of assets for GEAM's growing client base and the retirement portfolios of our employees."
NBCU spokesperson Kathy Kelly-Brown tells TVBR this is a huge promotion for Jay. "This is a great opportunity for him, he's running an entire business. This is clearly a promotion. He's done an outstanding job and we're sorry to see him go."
On Jay's replacement, NBCU CEO Jeff Zucker will name a replacement within a few weeks.
WMAQ-TV Chicago GM Larry Wert tells TVBR Ireland was well-revered at NBCU: "After eight years, Jay Ireland is leaving NBCU to become the President/CEO of GE Assets Management. This is a huge promotion and a great vote of confidence from Jeff Immelt in Jay. He will over see approx 250B in GE assets and his efforts will impact all of our savings and pensions. Jay has been a great leader, and he will be missed greatly in our organization."