Corporate

'His legacy is tarnished': The big shake-up at GE is a direct challenge to former CEO Jeff Immelt's most prized achievements

4 monthes ago   |   By

REUTERS/Adnan Abidi
General Electric announced a major reorganization on Tuesday, saying it plans to spin off its healthcare business and divest its stake in oil-services company Baker Hughes.
The efforts can be viewed as a challenge to multiple initiatives implemented by former chief executive officer Jeff Immelt, who was replaced in October 2017.
One Wall Street analyst argues that Immelt's legacy has been damaged by these new corporate maneuverings, and explains why a change was necessary.
The legacy Jeff Immelt left behind at General Electric is officially on life support.
Perhaps the...
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