Hints and tips:
...Speaking on the day that 3M announced plans to separate its own healthcare business, Culp said he remained confident that the strategy would boost GE’s valuation in the long run....
...Culp has served as chief executive since 2018....
...Larry Culp, GE chief executive, said the growing number of companies spinning off their healthcare divisions probably reflected a recognition that healthcare companies tend to operate in a non-industrial...
...Shares in GE fell 10 per cent to $80.71 in morning trading in New York after chief executive Larry Culp detailed a series of “macro headwinds” putting pressure on revenues, as the 130-year-old group prepares...
...Culp plans to break up the conglomerate into three public companies focused on healthcare, energy and aviation....
...The group’s longstanding reputation as a hands-on school for future CEOs finally disintegrated in 2018, when the board appointed an outsider, Larry Culp, as chief executive....
...I don’t think anybody really does,” chief executive Larry Culp told analysts....
...Larry Culp, the General Electric chair and chief executive who faced a similar shareholder protest last year, in March agreed to cut his annual equity incentive award by $10mn....
...andrew.hill@ft.com Twitter: @andrewtghill...
...But the break-up Culp unveiled, reversing decades of acquisitions, also had its roots in history....
...We salute GE CEO Larry Culp and his team’s efforts in driving long-term shareholder value.”...
...Andrew Edgecliffe-JohnsonIt has very much had activist investors pushing for precisely this strategy. And I would say that Larry Culp, the CEO, has signed off on this strategy....
...andrew.edgecliffe-johnson@ft.com Letter in response to this article: Equity ownership is the right kind of levelling up / From David Howell, House of Lords, London SW1, UK...
...Mr Culp could receive a bonus of up to $230m if GE’s shares trade above $16.68 for a sustained period, rather than the $31 target in his 2018 contract....
...Mr Culp made $24.6m in 2019, his first full year as GE’s chief executive....
...For GE, the transaction is the latest step in Culp’s financial de-risking strategy. The group already cut $16bn from its debt in 2020....
...They cite examples such as General Electric, where chief executive Larry Culp apparently has fostered an environment in which “employees can raise tough issues and know they will be addressed honestly and...
...On Wednesday, Culp announced an exit from GE Capital’s largest remaining business, the aircraft leasing business GECAS....
...I cheer for Larry [Culp, CEO since 2018] and I want GE to continue to do well.” He also supported the $46.5m bonus Culp could collect after GE’s stock rallied from its mid-pandemic low....
...The group’s industrial free cash flow, which reached $514m in the third quarter, would be at least $2.5bn in the fourth quarter and positive in 2021, Mr Culp predicted....
...Hipgnosis, the music royalties investment fund, said it had acquired a song catalogue from producer Andrew Wotman, whose song co-writer credits include Señorita by Shawn Mendes and Camila Cabello....
...Larry Culp, GE’s current chief executive, was appointed in October 2018, and the alleged disclosure failures took place between 2015 and 2017, when Jeff Immelt was CEO....
...Investors last week blew up at a $230m deal for General Electric’s Larry Culp, which was reformulated during the pandemic to make it easier for him to earn bonuses....
...The impact of Covid-19 has also weighed on chief executive Larry Culp’s attempts to turn the group round....
...Lights Out: Pride, Delusion, and the Fall of General Electric, by Thomas Gryta and Ted Mann, Houghton Mifflin Harcourt, RRP $28, 368 pages Andrew Hill is the FT’s management editor Letter in response to...
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