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

Comments are closed.