, Columnist
GE Gives Investors a Breakup. That's Something.
CEO John Flannery has put the company on a path toward the kind of radical rethinking it needs.
Flannery delivers the big one.
Photographer: Christopher Goodney/BloombergThis article is for subscribers only.
Nearly a year into his tenure, General Electric Co. CEO John Flannery has finally broken the tension between the old GE and the new GE.
On Tuesday, the industrial giant delivered its long-awaited breakup plan. No more dribs and drabs; this is the big one. GE will spin off its health-care division, separate out its interest in its Baker Hughes energy business and take additional steps to shrink GE Capital. This is less radical than the full-blown split that some investors had been prepared for, but it will go a long way toward making GE less of a conglomerate. Shares of GE spiked more than 6 percent in early trading.