General Electric has completed its transformation, finalizing a split into three independent public companies, a move that marks the end of an era for the 132-year-old industrial conglomerate. The split results in GE Aerospace, which will continue using the classic 'GE' ticker on the NYSE, GE Vernova (GEV), and GE HealthCare Technologies, each operating as separate entities. This strategic decision comes after two decades of turmoil, with GE's shares surging under CEO Larry Culp's leadership. The breakup is seen as a significant shift from GE's past as a symbol of American business power, now focusing on targeted sectors such as aerospace, healthcare, and energy. The newly formed companies, GE Aerospace and GE Vernova, celebrated their listing on the NYSE, with their CEOs, Larry Culp and Scott Strazik respectively, highlighting the transformation. Investors are hopeful that this breakup, valued at $191.9 billion, will defy the historically lackluster performance of corporate spinoffs.
General Electric completed its breakup into three companies, marking the end of the 132-year-old conglomerate that was once the most valuable US corporation and a global symbol of American business power. Read more: https://t.co/0BAZ2VVOL5 https://t.co/iK70YjaqiB
General Electric completed its breakup into three companies, marking the end of the 132-year-old conglomerate that was once the most valuable US corporation and a global symbol of American business power https://t.co/MIIAXH6mJP https://t.co/Ntycyq9StS
General Electric completed its breakup into three companies. The industrial giant's aerospace and energy businesses will begin trading on the NYSE as separate entities, more than a year after its healthcare business began trading on the Nasdaq https://t.co/N7YfKAGwcb https://t.co/qZu4k7DlTl