Announcement: [November 2021] GE Aerospace
In late 2021, GE announced its plan to form three industry-leading, global public companies focused on the important growth sectors of aviation, healthcare, and energy, by:
- Pursuing a tax-free spin-off of GE Healthcare, creating a pure-play company at the center of precision health in early 2023; and
- Combining GE Renewable Energy, GE Power, and GE Digital into one business positioned to lead the energy transition, and then pursue a tax-free spin-off of this business a year later, in early 2024.
- Following these transactions, GE will be an Aviation-focused company shaping the future of flight.
Why is this being announced now?
We have built significant momentum strengthening our financial position and operating performance, all while deepening our culture of continuous improvement and lean.
This momentum puts us in a position of strength to take this exciting next step in GE’s transformation and realize the full potential of each of our businesses.
We have built significant momentum strengthening our financial position and operating performance, all while deepening our culture of continuous improvement and lean.
This momentum puts us in a position of strength to take this exciting next step in GE’s transformation and realize the full potential of each of our businesses.
Who will lead the businesses?
- Larry Culp will serve as non-executive chairman of the GE healthcare company upon its spin-off. He will continue to serve as chairman and CEO of GE until the second spin-off, at which point, he will lead the GE aviation-focused company going forward.
- Peter Arduini will assume the role of president and CEO of GE Healthcare effective January 1, 2022.
- Scott Strazik will be the CEO of the combined Renewable Energy, Power, and Digital business while John Slattery continues as CEO of Aviation.
Will I experience any disruption to service?
- No. This announcement does not change our deep commitment to our customers nor does it change your current point-of-contact.
- We’ll continue to partner closely with you and the same representatives will be available for support.
I am currently reviewing a proposal from GE for a project; will this affect my business with GE?
- This announcement does not impact how we will do business with you now, nor does it change our deep commitment to serving you going forward.