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General Electric replaces CEO with outsider, shares soar

October 1, 2018 by  
Filed under News

General Electric Co ousted Chief Executive Officer John Flannery in a surprise move on Monday, replacing him with outsider and board member Larry Culp, and said it would take a roughly $23-billion charge to write off goodwill in its power division, primarily from a large 2015 acquisition.


Source: Reuters Business News

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