Skip to content
Subscriber Only

As Immelt Bows Out, GE Shows the Stench of Oil Is Hard to Escape

  • Gas-turbine manufacturer also sees pressure in power business
  • Share decline makes company the biggest loser on Dow this year
Video player cover image

GE’s Immelt Can’t Escape Stench of Oil in Swan Song

Updated on

In his final days atop General Electric Co., Jeffrey Immelt still can’t throw off oil’s stink.

In his farewell earnings report, the chief executive officer ended his 16-year tenure by telling Wall Street that GE’s earnings are likely to be disappointing the rest of this year. The culprit: sputtering energy markets.