General Electric announced on Tuesday that it would be splitting into three public companies.
- The news comes after years of poor stock performance for GE.
- The three public companies will focus on energy, health care, and aviation.
- The health care division is expected to launch in early 2023 while the energy unit will be ready by early 2024.
- GE's CEO Lawrence Culp said in a statement,
“By creating three industry-leading, global public companies, each can benefit from greater focus, tailored capital allocation, and strategic flexibility to drive long-term growth and value for customers, investors, and employees.”
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