General Electric is transforming itself urgently after its share price collapsed in 2017 and continued to fall into 2018. Longtime CEO Jeff Immelt stepped down in October 2017, and his successor, company veteran John Flannery, has promised major changes, saying “everything is on the table,” including a possible break-up. Most troubled now is GE’s largest business, which makes and services giant turbines for electric utilities; orders and profits plunged in 2017, and Flannery has set expectations low for 2018. But he says GE’s problems extend beyond any one business and include capital allocation, culture, and execution–big factors to try to reform.
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This is your Data Sheet newsletter for Monday, December 17, 2018.
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GE is also selling off a software asset to shift its focus to the internet-of-things market.
General Electric Co. shares sank after two analysts sounded more alarm bells around the company’s liquidity.