{"id":18496,"date":"2018-10-01T17:39:39","date_gmt":"2018-10-01T17:39:39","guid":{"rendered":"http:\/\/www.ceo-na.com\/?p=18496"},"modified":"2018-12-07T16:26:33","modified_gmt":"2018-12-07T16:26:33","slug":"ge-removes-ceo","status":"publish","type":"post","link":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/business\/management-leadership\/ge-removes-ceo\/","title":{"rendered":"GE removes CEO"},"content":{"rendered":"<p class=\"speakable\"><em><strong>General Electric has dropped CEO John Flannery after barely a year on the job.<\/strong><\/em><\/p>\n<p><!--more--><\/p>\n<p><a href=\"http:\/\/www.ceo-na.com\/printed-version\/digital-healing\/\" target=\"_blank\" rel=\"noopener\">John Flannery<\/a> is no longer the head of\u00a0General Electric (GE), and shares are up more than 13% on the news.<\/p>\n<p>As\u00a0GE&#8217;s shares fell nearly one-third this year with investors worried about the company&#8217;s mounting debt and shrinking profit, it was time to take immediate action.<\/p>\n<p>Flannery will be replaced by H. Lawrence Culp Jr.,\u00a0who served as the CEO and president of Danaher Corporation from 2000 to 2014. The respected executive is also set to become the first outsider to lead GE in the company&#8217;s 126-year history.<\/p>\n<p>Lawrence Culp, with 55 years of age,\u00a0\u00a0is credited with leading a turnaround at\u00a0Danaher, company that makes everything from dental tools to consumer packaging.<\/p>\n<p>According to CNN Money,\u00a0RBC analyst Deane Dray recently wrote to clients:\u00a0&#8220;We hold Mr. Culp in the highest regard&#8221; given his &#8220;operational and strategic excellence&#8221;.<\/p>\n<p>As for Scott Davis, lead analyst at Melius Research, Culp is a &#8220;proven CEO with pedigree and the support of Wall Street.&#8221;<\/p>\n<h4><strong>Mission: Turn the company around<\/strong><\/h4>\n<p>General Electric, an original member of the Dow since 1896, and\u00a0the most valuable company in America as of 2004, worth nearly $400 billion,\u00a0was recently booted from the exclusive index\u00a0over the summer. Last week, its market value fell\u00a0below $100 billion\u00a0for the first time since March 2009.<\/p>\n<p>GE is also dealing with an SEC investigation into its accounting practices and\u00a0insurance business. The subprime mortgage unit is also under investigation by the Justice Department.<\/p>\n<p>If GE does not work on bettering its financial arm, the company could be facing\u00a0bankruptcy as it navigates, like many other multinational companies, the <a href=\"http:\/\/www.ceo-na.com\/?s=china+trade+war\" target=\"_blank\" rel=\"noopener\">US-China trade war<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>General Electric has dropped CEO John Flannery after barely a  [&#8230;]<\/p>\n","protected":false},"author":8,"featured_media":18497,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[133,324,586,166],"class_list":["post-18496","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-management-leadership","tag-breaking-news","tag-chief-executive-officer","tag-general-electric","tag-john-flannery"],"_links":{"self":[{"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/posts\/18496","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/comments?post=18496"}],"version-history":[{"count":1,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/posts\/18496\/revisions"}],"predecessor-version":[{"id":18498,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/posts\/18496\/revisions\/18498"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/media\/18497"}],"wp:attachment":[{"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/media?parent=18496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/categories?post=18496"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/tags?post=18496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}