GE Forms New Software Company in Overhaul of Digital Strategy
This article is for subscribers only.
General Electric Co. is creating an independent company for its software business as the struggling manufacturer rethinks what had been a key pillar of its growth strategy in recent years.
GE will retain ownership of the new operation, which will have about $1.2 billion of existing software revenue, according to a statement Thursday. GE Digital’s leader, Bill Ruh, will step down “to pursue other other opportunities” as part of the reshuffling.