Gec: From Dowager To Sexy High Tech Star?

Simpson is revamping GEC, but there's a long way to go

George Simpson, the unassuming CEO of Britain's General Electric Co., has a knack for resuscitating sluggish companies and then selling tHem off for more than anyone expected. In 1994, while a top executive at British Aerospace PLC, he was credited with turning around its Rover carmaking subsidiary and then selling an 80% stake to Germany's BMW for $1.2 billion. He topped that deal on Jan. 19, selling GEC's defense electronics business to rival British Aerospace for $12 billion, mostly in stock--30% more than what most analysts believe it is worth.

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