Business

GE Will Split Into Three Units, Ending Conglomerate for Good

November 9, 2021, 6:47 AM EST Updated on November 9, 2021, 11:09 AM EST

Health, energy businesses to be separated from aviation arm
GE’s conglomerate structure to end after years of retrenchment

GE Breakup Will Attract More Pure-Play Investors: CEO Culp

General Electric Co. will split into three separate companies in a stunning breakup of the iconic manufacturer founded by Thomas Edison whose sprawling businesses once made it the world’s most valuable company. The shares surged.

GE will spin off its health-care business in early 2023 and combine its renewable energy, fossil-fuel power and digital units into a single energy-focused entity that will be spun off a year later, the company said Tuesday. The remaining company will consist of GE Aviation, its jet-engine division.