Power Letters 2023: Nabil Habayeb, SVP – GE, President and CEO – GE International Markets

For organisations that touch people’s everyday lives, navigating complexity deftly is critical. As they evolve to meet a changing world, these companies often must make transformational leaps to shape the future of their business, while keeping a laser focus on what really matters.

In 2023-24, GE will undergo a shift unlike any other in our history. We will welcome a new era of service to our customers and communities as three independent entities – GE HealthCare, GE Vernova and GE Aerospace. The core areas of operations of these three companies are integrally linked to what the world needs – separating will allow for a single-minded focus on better healthcare, cleaner energy and seamless connectivity.

Across all three businesses, there will two key drivers – a focus on sustainable progress and a commitment to tapping into the power of the digital world.

Sustainability as a focus was evident in the year 2022 as the world rallied around the need for a decarbonised future. With energy playing a central role in driving climate security, every pathway for the energy
transition must be harnessed – and that will continue to be a priority for GE as we support the transition through renewable energy, hydrogen; carbon capture, utilisation and storage (CCUS); nuclear and others.

In  aviation, we are now working on what’s next alongside our partners by proving out future technologies such as open fan design, hydrogen and hybrid electric, and making our operations carbon neutral. In healthcare, our focus on remote solutions means fewer trips when our technicians are repairing or upgrading our machines, which cuts down on travel-related emissions.

Here in the Middle East, the focus on sustainable development will take centrestage in 2023 as the UAE hosts the COP28 conference.

This is an opportunity to build on the successes achieved at COP27 in Sharm El Sheikh, where GE focused on implementation and partnerships. We signed an agreement with IRENA, ran a GE LM6000 aeroderivative gas turbine on a hydrogen/natural gas fuel blend for the first time in Africa, became a founding member of the Corporate Coalition for Innovation & Technology toward Net Zero and more.

When it comes to digitisation, the last year has also been unprecedented. We have seen the accelerated adoption of digital in healthcare. In the energy space, digital solutions can increase efficiency, flexibility
and availability for wind and gas turbines, as well as the grid.

And when it comes to aviation, creating the future of flight means harnessing vast amounts of data to ensure people and goods are transported as efficiently and sustainably as possible.

At an organisational level, GE is transforming to continue the pursuit of our purpose – building a world that works. January 2023 will start with the creation of GE HealthCare, a company which will drive precision health to improve patient outcomes.

GE’s portfolio of energy and digital businesses, which will comprise GE Vernova, is set for a spin-off in 2024, with the mandate of supporting the world’s energy transition and decarbonisation goals. And as GE transitions to become GE Aerospace in 2024, our focus remains strongly on redefi ning the future of flight.

As we look into a future of new opportunities, we will continue to be a partner in the progress of nations and communities.