Reuters logo
GE CEO signals 'sweeping change' ahead, $20 billion in asset sales
October 20, 2017 / 12:57 PM / a month ago

GE CEO signals 'sweeping change' ahead, $20 billion in asset sales

NEW YORK (Reuters) - General Electric Co (GE.N) Chief Executive John Flannery said Friday investors can expect “sweeping change” from his review of the businesses, and that the industrial conglomerate will focus on profit, cash generation and accountability of employees.

Flannery said he sees room to cut more than $2 billion in costs next year, double the current target, and that he has found more than $20 billion in assets that GE will sell in one to two years.

Reporting by Alwyn Scott; Editing by Nick Zieminski

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below