40 General Electric (GE) finalized its breakup into three companies on Tuesday, culminating in the dissolution of the 132-year-old conglomerate, once hailed as the most valuable U.S. corporation and a global emblem of American business prowess. The industrial giant’s aerospace and energy businesses commenced trading as separate entities on the New York Stock Exchange, more than a year after GE spun off its healthcare division. Upon assuming leadership in 2018, CEO Culp inherited a company grappling with diminished profits and substantial debt. With its stock plummeting nearly 80% from 2000 highs and expulsion from the Dow Jones Industrial Average after a century, GE faced significant challenges. Under Culp’s leadership, which marked the first time an outsider helmed the company, GE embarked on a path to financial recovery. Founded in 1892 through the merger of Edison General Electric Co with a rival, GE has played a pervasive role in various aspects of life, from pioneering electricity distribution to appliance manufacturing and mortgage financing. Post-split, GE will retain its aerospace business, which supplies engines for Boeing and Airbus aircraft and derives over 70% of its revenue from services. You Might Be Interested In Russia’s Supreme Court Bans LGBTQ Activism The AI Video Editing Revolution: Transforming Business Operations in the Digital Age Venture Capitalists Shift Focus to Startups’ Profitability Path Dramatic currency drop leads to rising inflation in Egypt Philippines Urged to Prioritize Careful Planning for Energy Transition, Says Rockefeller Foundation Burford Capital Granted Permission to Lead Sysco Chicken Antitrust Lawsuits
