GE , To Become, 3 Separate Companies.<br />General Electric (GE) made <br />the announcement on Nov. 9.<br />The company, which was founded <br />by Thomas Edison in 1892, .<br />The company, which was founded <br />by Thomas Edison in 1892, .<br />will now operate as separate publicly-traded aviation, health care and energy businesses.<br />will now operate as separate publicly-traded aviation, health care and energy businesses.<br />will now operate as separate publicly-traded aviation, health care and energy businesses.<br />By creating three industry-leading, global public companies, each can benefit from greater focus, tailored capital allocation, and strategic flexibility to drive long-term growth and value for customers, investors, and employees, Larry Culp, GE CEO, via press release.<br />Today is a defining moment for GE, and we are ready. The momentum we have built puts us in a position of strength to take this exciting next step in GE's transformation and realize the full potential of each of our businesses, Larry Culp, GE CEO, via press release.<br />CEO Larry Culp, who took the reigns in 2018, <br />has worked to chip away at GE's massive debt load <br />that's accrued since the 2008 financial crisis.<br />Prior to the spinoff announcement, <br />the stock was up over 25% so far this year.<br />After the news, GE shares surged up to 17% before settling at about a 6% gain shortly <br />before the market opened.<br />After the news, GE shares surged up to 17% before settling at about a 6% gain shortly <br />before the market opened
