After a rigorous and strategic review, GE announces it will focus on Aviation, Power and Renewable Energy.
In addition to the pending combination of its Transportation business with Wabtec, GE plans to separate GE Healthcare into a standalone company, pursue an orderly separation from Baker Hughes, a GE company (BHGE), make its corporate structure leaner and substantially reduce debt. GEs Board of Directors unanimously approved the plans announced this week.
GE plans to fully separate its 62.5% interest in BHGE in an orderly manner over the next two to three years. The separation will provide BHGE with enhanced agility and the ability to focus on leading in the oil and gas industry.
Pictured: New Baker Hughes a GE company CEO Lorenzo Simonelli speaks during a meeting at the company’s office in north Houston.
Image courtesy of Mark Mulligan/Houston Chronicle