GE Chief Will Sell, Spin Off $20 Billion of Businesses in Two Years - Energy Watch News


GE Chief Will Sell, Spin Off $20 Billion of Businesses in Two Years

John Flannery looks to simplify the conglomerate after a review begun when he was appointed CEO in June. While the Boston-based firm didn’t specify which businesses would go on the block: “Everything is on the table, and there have been no sacred cows,” Flannery said. Among the possible divestitures at GE is Baker Hughes. Wall Street analysts have suggested GE may consider selling assets from industrial lighting, which was part of retiring vice chair Beth Comstock’s portfolio, to power conversion and even the locomotive division previously headed by new CFO Jamie Miller. The new CEO, who is detailing his strategy for investors in a Nov. 13 meeting in New York, continued to emphasize that he’s fully committed to digital manufacturing. https://finance.yahoo.com/news/ge-chief-may-sell-spin-122100057.html

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