Former Danaher CEO Lawrence Culp to lead GE

General Electric Co. (NYSE: GE) announced Monday that Lawrence Culp, former CEO of D.C.-based Danaher Corp., will take over as its chairman and CEO.

Culp, 55, a member of the GE board since April, succeeds John Flannery, who lasted just over a year in the position.

“GE remains a fundamentally strong company with great businesses and tremendous talent. It is a privilege to be asked to lead this iconic company,” Culp said in a release. “We will be working very hard in the coming weeks to drive superior execution, and we will move with urgency. We remain committed to strengthening the balance sheet including deleveraging.”

Culp led Danaher (NYSE: DHR) from 2000 to 2014, driving an increase in its revenues five-fold as he took a company largely known as an industrial manufacturer and transformed it into a science, technology and health conglomerate. Danaher’s market capitalization grew to more than $50 billion during Culp’s tenure.

Boston-based GE, meanwhile, announced Monday…

Read the full story from the Washington Business Journal.