GE to Split Aviation, Health Care and Energy into 3 Public Companies

GE to Split Aviation, Health Care and Energy into 3 Public Companies

CNBC (YouTube Video)

November 9, 2021

Though the news was not unanticipated, GE’s announced break-up into separate business entities was the talk of Wall Street this week. Company CEO Larry Culp told CNBC that customers were asking for focus. Does the move portend the demise of the conglomerate at the hands of the pure-play? Investors may think so; while major stock indexes were down Tuesday, GE shares surged by 2.7%. The move is significant for North Carolina. GE employs 3,070 people across the state and relies on dozens of suppliers here. The company’s Aviation Division maintains manufacturing sites in Asheville, Durham, West Jefferson and Wilmington. GE Healthcare also has more than 275 employees in the state, and since 2005, Wilmington has been home to GE Hitachi’s global headquarters.

Watch the video here.