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G.E. Cuts Dividend as New C.E.O. Moves to Streamline an Industrial Giant

2017-11-14 1 Dailymotion

G.E. Cuts Dividend as New C.E.O. Moves to Streamline an Industrial Giant<br />Last month, when G. E. reported disappointing financial results, Mr. Flannery said<br />that the company would sharpen its focus on fewer industrial businesses and shed at least $20 billion in assets over the next two years.<br />He grounded the corporate jet fleet, stretched out the construction schedule for G. E.’s new headquarters in Boston, closed down several international research-and-development labs<br />and trimmed the work force in units like GE Digital, the company’s ambitious effort to become an industrial-software powerhouse.<br />Besides Mr. Flannery and the company’s chief financial officer, Jamie Miller, executives from only two of the company’s units — jet engines<br />and electrical power generators — are scheduled to make presentations.<br />For his part, according to a report by The Wall Street Journal on Monday, Mr. Flannery is expected<br />to outline plans for three main businesses: aviation, power generation and health care.<br />The other businesses currently in G. E.’s portfolio include railway locomotives, lighting<br />and a majority stake in a major oil-field equipment company, Baker Hughes.

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