FILE PHOTO: The logo of U.S. conglomerate General Electric is pictured at the site of the company’s energy branch in Belfort, France, February 5, 2019. REUTERS/Vincent Kessler/File Photo
November 9, 2021
(Reuters) – General Electric Co said on Tuesday it was planning to split into three public companies, sending shares of the U.S. conglomerate up 15% in trading before the bell.
GE said it would combine GE Renewable Energy, GE Power, and GE Digital into one, while pursuing a tax-free spin-off of GE Healthcare.
Its aviation unit will be the third entity, the U.S. conglomerate said.
GE Chief Executive Officer Lawrence will lead the aviation business once the spin-off is complete and serve as non-executive chairman of GE healthcare company.
Scott Strazik will be the CEO of the combined Renewable Energy, Power and Digital business.
(Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Anil D’Silva)
Source: One America News Network
