Hints and tips:
...Before him, Jeff Immelt and John Flannery sold vast swaths of the group, including GE Capital, its property assets and the insurance business....
...That was John Flannery, a company veteran who started with a plan to strip GE down to its electricity and aviation divisions....
...The company’s share price is trading at a fraction of where it was when Welch left the company in 2001 as Jeff Immelt, John Flannery and Culp, his three successors, faced the challenge of dismantling the...
...Additional reporting by James Fontanella-Khan...
...“It was not even close,” Mr Flannery said....
...Speaking to CNBC last year, Mr Flannery acknowledged that the Alstom deal “in total has been a disappointment”....
...Since that strategy was announced, Mr Flannery has been ousted by the board and the pressure on GE has grown....
...To paraphrase James Baldwin, nothing is fixed under the heavens. So, yes....
...Flannery exits GE General Electric replaced John Flannery, the chief executive who spent just over a year in the role, after the conglomerate cut its profit outlook for 2018 and said it would take a $23bn...
...$2.5tn in the first half of 2018, breaking the all-time high for the period and underscoring the intense nature of mergers and acquisition activity despite increasingly bitter geopolitical tensions, write James...
...GE’s power equipment and oilfield services divisions have been the most problematic units inherited by Mr Flannery....
...But after John Flannery was ousted at the end of September, Danaher thought it was time to retry its luck....
...“We are a company that’s built for fair and open trade,” said John Flannery, chief executive of GE. Brian Goldner, chief executive of Hasbro, put the message more starkly....
...That’s part of the challenge for Flannery in righting GE. The other challenge, as Lex adroitly notes, is the big black box around its financials....
...On those criteria, current directors whose experience seems less relevant include Sébastien Bazin, chief executive of AccorHotels, and James Rohr, the former chief executive of PNC Financial Services....
...assets (Reuters) Madison Square Garden owner to explore spinoff of Knicks, Rangers (WSJ) Follow the FT’s deals team Arash Massoudi in London — @ArashMassoudi Javier Espinoza in London — @JavierespFT James...
...John Flannery, the new chief executive who took over last August, admitted last week that “clearly, in hindsight, we under-appreciated the risk in this [insurance] book”, and suggested that the way GE’s...
...Flannery worked in GSO's credit unit and focused on distressed investing....
...Flannery’s strategy to turn round the corporate behemoth includes a string of asset sales to bolster GE’s balance sheet and simplify its corporate structure....
...But despite all the bad experiences with dealmakers, GE still needs them as Larry Culp, the man appointed to replace John Flannery at the helm of the company, vowed to maintain his predecessor’s strategy...
...“This looks to be a decent deal for ABB, filling gaps in the low-voltage portfolio, particularly in North America,” said James Stettler, analyst at Barclays....
...Additionally, Flannery has committed to $20bn worth of divestitures. Immelt’s dealmaking is a big part of GE’s current damaged position....
...“All major vendors got the market wrong,” says James Stettler, analyst at Barclays....
...The situation has added to the troubles inherited by new chief executive John Flannery (pictured above), who has been struggling to restructure the industrial conglomerate and clean up financial problems...
...Flannery cracked open the door on Tuesday. The question is whether the monster gets to him before he gets to it....
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