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Mark Vachon was named vice president of ecomagination, GE’s sustainable business strategy that has invested $5 billion in clean tech research and development and generated $70 billion in revenues in its first five years.
Vachon is a 28-year veteran of GE and most recently served as President and CEO of GE Healthcare’s $9 billion America’s region, leading commercial activities in the United States, Canada, and Latin America. As a leader of GE's healthymagination initiative, Vachon also focused on strategic engagement of governments and clinicians to lower costs, improve quality, and achieve greater access to healthcare.
“With his record of business leadership across GE and forging new partnerships, Mark joins ecomagination ready to achieve our goal of solving big global challenges by providing clean energy solutions and driving economic growth,” said GE Chairman and CEO Jeff Immelt. “As we work to achieve new goals in the next five years, growing our global partnerships and providing value to customers will be more important that ever. Mark is the right leader to get this done.”
Since its start in 2005, more than 90 ecomagination-approved products have been brought to market with revenues reaching $18 billion in 2009. With $5 billion invested in R&D its first five years, GE committed to doubling its ecomagination investment and collaborate with partners to accelerate energy innovation. The company will invest $10 billion in R&D over five years and double operational energy efficiency while reducing greenhouse gas emissions and water consumption. As part of the initiative, GE launched “GE ecomagination Challenge: Powering the Grid," a $200 million financial commitment challenging innovators to join in building the next-generation power grid.
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