GE Names Chief of Appliance Division

General Electric Co. said it tapped James Campbell to run its lagging appliance division, hours after Albertson’s announced it had hired the division’s current president, Lawrence Johnston, as its chairman and chief executive. Known for the depth of talent in its management ranks, GE, the world’s largest company by market value, moved quickly to name Campbell, 43, president and chief executive of the unit. Lynn Pendergrass, 40, was named vice president and general manager of sales and marketing for GE Appliances, replacing Campbell. Johnston and other GE officials said the company remained committed to the division that produces its refrigerators, stoves and dishwashers. Analysts said the appliance division has a capable leader in Campbell, who has been its vice president and general manager of sales and marketing. Johnston became head of the unit in November 1999 and is credited by some analysts with modernizing GE’s appliance business. His departure follows the Jan. 17 news that Linda Goodspeed resigned as general manager of the division’s cooking products to be president of an Internet company. The appliance unit has suffered lower sales and earnings recently, barely warranting a mention in quarterly results at GE, which manufactures products ranging from jet engines to electrical power turbines to light bulbs. The company also runs the NBC television network and operates the GE Capital financial services unit. Shares of GE fell $1.21 to close at $45.99 on the NYSE.