General Electric Co's new Chief Executive John Flannery on Monday outlined steps that will turn the biggest U.S. industrial conglomerate into a smaller, more focussed company, surprising some investors who sold the company's shares to a five-year low. Flannery's plan to shrink GE's multi-industry array of businesses was a reversal of the deal-driven empire building of his predecessors, Jeff Immelt and Jack Welch, and potentially a milestone in the decline of the conglomerate as a business strategy. Other companies that once emulated the GE model of spreading bets ...
Plans to shrink GE worries investors; shares hit five-year low
GE shares fell to their lowest level in more than five years as investors worried the years-long overhaul would not pare down enough expenses
Reuters Last Updated at November 14, 2017 08:50 IST