Healthcare, energy, and aerospace divisions solidified
General Electric continues its odyssey. The company is too important to manufacturing—and employs too many skilled workers—to fold, so its last five years have been marked by leadership changes and business restructuring. That continued this week when GE solidified its new structure for the healthcare, energy, and aerospace sectors.
Healthcare business to be named GE HealthCare
GE’s portfolio of energy businesses, including GE Renewable Energy, GE Power, GE Digital, and GE Energy Financial Services, to come together as GE Vernova
Aviation business to be named GE Aerospace
In a July 18 announcement, GE confirmed the brand names of the future companies it will create through its planned separation into what it hopes will be three "industry-leading, global, investment-grade public companies" focused on the growth sectors of healthcare, energy, and aviation.
GE HealthCare will be the name of GE’s healthcare business. GE’s existing energy portfolio of businesses, including Renewable Energy, Power, Digital, and Energy Financial Services, will sit together under the brand name GE Vernova. GE Aerospace will be the name of GE’s aviation business. All three planned companies will continue to benefit from GE’s heritage and global brand valued at nearly $20 billion*.
H. Lawrence Culp, Jr., Chairman and CEO, GE, and CEO, GE Aerospace said, “Today marks a key milestone in GE’s plan to become three independent, laser-focused companies. Leveraging GE’s multi-billion-dollar global brand gives us a competitive advantage in our end markets, allowing these businesses to win in the future. Built on a foundation of lean and innovation, these brands will continue our mission of building a world that works and provide our customers with an important reminder of the strengths they value in GE.”