GE rolls back breadth of fu­ture am­bi­tions

The Phnom Penh Post - - MARKBEUTSSINESS -

JOHN Flan­nery, the new chief of Gen­eral Elec­tric, is back­ing away from the am­bi­tious de­signs of his pre­de­ces­sors, who steered the cor­po­rate gi­ant and its con­glom­er­ate-style em­pire build­ing for over three decades. Flan­nery, who be­came chief ex­ec­u­tive in Au­gust, left no doubt on Mon­day that the con­glom­er­ate era is long gone. The new GE, he de­clared in his first de­tailed pre­sen­ta­tion on its fu­ture, will be a smaller com­pany. The op­er­a­tions up for sale in­clude busi­nesses that reach back to the days of GE’s founder Thomas Edi­son, like light bulbs and rail­road lo­co­mo­tives. More than $20 bil­lion in as­sets are ear­marked for sale.

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