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GE's new CEO vows sweeping change after report

Everything is on the table, things will not stay the same at GE', Flannery said on a conference call to discuss quarterly earnings

Rick Clough | Bloomberg 

General Electric Co.’s new boss promised “sweeping change” as he delivered a brutal assessment of the 125-year-old manufacturer. Results for the latest quarter are “completely unacceptable,” Chief Executive Officer John Flannery told investors on Friday as he slashed the profit forecast and pledged to unload $20 billion of GE businesses. “We need to make some major changes with urgency and a depth of purpose.” John Flannery. Photo: Twitter handle (@JohnFlannery_GE) Flannery, who took over Jeffrey Immelt’s longtime post less ...

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First Published: Sun, October 22 2017. 02:32 IST