General Electric Completes Historic Split, Launches GE Aerospace and GE Verona on NYSE and Nasdaq
Tuesday, 2 April 2024, 18:02
General Electric Completes Three-Way Split
General Electric (GE) underwent a historic three-way split, introducing GE Aerospace and GE Verona on stock exchanges.
End of an Era for GE
General Electric's transformation signifies the end of an era for the once-iconic industrial conglomerate, symbolizing the shifting landscape of American business power.
- GE Capital Crisis: Following the 2008 financial crisis, GE Capital faced near bankruptcy, prompting CEO Larry Culp's reform efforts.
- Breakup Strategy: Culp's initiative to split GE into separate entities materialized, with GE Aerospace led under his guidance.
General Electric's split reflects the company's evolution under new leadership, aiming for sustained growth and market prominence.
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