GE Successfully Splits into Separate Entities After Years of Struggles
GE Completes Three-Way Split
The industrial giant, General Electric (GE), has successfully split into separate entities, with its aerospace and energy businesses now trading independently. This strategic move led by CEO Larry Culp is aimed at revitalizing the company and seizing new opportunities in the market.
Years of Struggles
The breakup marks a significant milestone for GE, which endured challenges such as the fallout from the 2008 financial crisis that severely impacted its most profitable business, GE Capital. CEO Larry Culp announced the breakup in late 2021 as part of efforts to reshape the company's future.
- The breakup ends a generation-long era of diversification under predecessors.
- GE's healthcare business had previously begun trading on the Nasdaq.
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