GE Surges on Report That Peltz's Ire May Lead to CEO Change
- Immelt is ‘on the hot seat,’ Fox Business’s Gasparino says
- Trian took $2.5 billion stake in 2015 as GE shifted strategy
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General Electric Co. jumped the most in four months after a report that activist investor Nelson Peltz is unhappy with the company’s recent performance, potentially putting pressure on Chief Executive Officer Jeffrey Immelt to step down.
Immelt is “on the hot seat” with Peltz’s Trian Fund Management, according to a tweet from Fox Business reporter Charles Gasparino. The shares rose 2.4 percent to $30.38 at 1:29 p.m. in New York after climbing as much as 2.5 percent for the biggest intraday gain since Nov 10.