Skip to content
Subscriber Only

GE Exits Health, Oil as CEO Shrinks Onetime Titan to Save It

  • Flannery narrows focus again in revamp of U.S. business icon
  • Company says it will maintain dividend through health spinoff
Bloomberg business news
GE is becoming a much smaller company. Bloomberg Intelligence’s Karen Ubelhart reports. (Source: Bloomberg)
Updated on

This is John Flannery’s General Electric Co. -- and so far, Wall Street likes it.

A year after being named chief executive officer, Flannery took the boldest steps yet to revamp the sinking corporate titan, unveiling plans to pull GE out of the health-care and oil markets. By slimming it down and reorienting around power, renewable energy and aviation, he hopes to breathe new life into the 126-year-old company.