GE suddenly replaces its CEO

Oscar / Eng tc / gtfo
Oct 1, 2018 4 Comments

“General Electric is removing CEO John Flannery from his role and replacing him immediately with Lawrence Culp, who will also serve as chairman. The unexpected move shot GE shares up in premarket trading on Monday. The company also announced it will take a “$23 billion non-cash charge for its power business.” Flannery has been CEO since 2017 and only in August had just announced details of a “much-awaited” restructuring plan for the firm. • Here’s what people are saying.”

Who’s betting this is unrevealed sexual allegation?

121 VOTES SELECT ONLY ONE ANSWER
VOTE VIEW RESULT

comments

Want to comment? LOG IN or SIGN UP
TOP 4 Comments
  • EMC 69E3
    He only exposed all the bad shit that GE is famous for and spin out business that are bit stagnant. It’s aligned for long term success and hurt short term making shareholders go crazy., so there goes Flannery.,
    Oct 1, 2018 0
  • US Bank / Finance
    LkYl04

    US Bank Finance

    PRE
    Goldman Sachs, JPMorgan Chase
    LkYl04more
    The company is a dumpster fire he probably was way off on realignment strategy and got ousted.
    Oct 1, 2018 0
  • GE / Product KuyW70
    I think it is a good move to get an outsider. My worry is that it may be an interim position and they will go back to looking for an insider for the job in a year
    Oct 1, 2018 0
  • GE / Eng
    Not happy

    GE Eng

    PRE
    Ericsson
    Not happymore
    So what you guys think... does it’s a good move to company ?
    Oct 1, 2018 0