The wider company has come under pressure in recent years, since Mr. Peltz’s Trian took a 1 percent stake in G. E.<br />The investment was worth about $2.5 billion, with Mr. Peltz saying at the time<br />that the company’s stock was “undervalued and underappreciated” and could be transformed to “allow its world-class industrial businesses to drive attractive shareholder returns.”<br />But G. E.’s stock price slumped late last year and Trian said<br />that it “intensified its dialogue” in March with G. E.’s senior management “regarding new initiatives to help ensure that G. E.<br />can meet its financial commitments<br />He said that while “no one’s happy with the stock price now,” the health care<br />sector in particular offered “so much long term growth,” adding that G. E.<br />was “just scratching the surface of what we can do in that business.”<br />Mr. Flannery, 55, will become chief executive of G. E.<br />Mr. Immelt, 61, will remain as chairman until he retires on Dec. 31.<br />Jeffrey Immelt to Retire as General Electric Chief -<br />By CHAD BRAY and STEVE LOHRJUNE 12, 2017<br />General Electric said on Monday that its longtime chairman<br />and chief executive, Jeffrey R. Immelt, would retire, ending a 16-year run in which he refocused the company on its industrial roots but also made notable acquisitions.
