General Electric (NYSE:GE) finalizes three way split

General Electric (NYSE:GE) officially completed its historic breakup into three independent companies today, marking a significant shift for the once-dominant industrial conglomerate.

The move signifies the culmination of efforts by CEO Larry Culp to revitalize the company after years of struggle.

GE's aerospace and energy divisions will begin trading as separate entities on the New York Stock Exchange, following the spin-off of its healthcare business.

This finalizes Culp's strategic plan, announced in late 2021, a decision that eluded previous leadership as GE expanded into diverse sectors.

GE's immense financial clout was evident when its finance arm was deemed "too big to fail" during the 2008 financial crisis.

However, the company faced continuous challenges, culminating in its removal from the prestigious Dow Jones Industrial Average in 2018.

Culp, appointed CEO shortly after, took drastic measures, including reducing the dividend to conserve cash.

Culp, now leading GE Aerospace, will celebrate the company's transformation by ringing the NYSE opening bell alongside Scott Strazik, CEO of the newly formed energy company, Vernova.

#NYSE #News #Dividends #Business #Strategic

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