GE to split into three companies in restructuring
Multinational conglomerate General Electric announced Tuesday it will split into three separate, publicly-traded companies, specializing in aviation, healthcare, and energy. It was the latest move by the industrial giant to shore up its fortunes. The firm said the split will leave the independently run businesses better positioned to deliver long-term growth and create value for customers, investors, and employees. GE will spin off GE Healthcare in early 2023, with the parent company expecting to retain a 19.9% stake. It would then combine three divisions – GE renewable energy, GE Power & GE Digital – into a single business that will be spun off in early 2024. The remaining core of the company. which will retain the name General Electric, will focus on aviation.
