Larry Culp’s GE Turnaround Plan Is Starting to Take Hold
- Cash-flow forecast raised as quarterly total tops estimates
- ‘There’s still a lot to do, it is a reset year,’ Culp says
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Exactly one year ago, Larry Culp delivered a sobering message to General Electric Co.’s long-suffering investors. As he slashed the dividend and restructured the power business to blunt a downturn, the newly minted boss made clear their pain wasn’t over.
Today, he put forth a more encouraging prognosis, offering hints that a turnaround is finally taking hold at the once-dominant industrial giant. Just as important, he didn’t blindside investors with nasty surprises.