https://www.cnbc.com/video/2018/06/26/w ... nnery.html
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June 29, 2018
BOSTON – 29 June 2018: GE (NYSE: GE) today announced that Todd Ernst will join GE as vice president of investor relations, effective July 23, 2018. In this role, Ernst will be responsible for communicating the vision and value of GE’s transformation with its shareholders and the financial community. Ernst joins GE from Raytheon, where he served most recently as vice president of Corporate Development. He succeeds Matt Cribbins, who is leaving GE as part of a planned transition process.
Jamie Miller, chief financial officer of GE, said, “Todd brings a wealth of experience with sell-side and buy-side equity analysts, deep knowledge of capital markets, and a strong network of relationships across the financial community. His financial and strategic analysis skills will be a great asset as we continue our progress on our plan to strengthen and simplify GE with our broad, diverse population of shareowners.”
Miller said, “Matt’s sound judgment and deep expertise helped guide GE through one of the most significant periods of change in our history. He has been a trusted partner and counselor to John and me as we assumed our roles, and his leadership in helping develop GE’s new operating system for the company will help our businesses run better. As we move now to implement this operating system and new company strategy, GE’s owners will continue to benefit from Matt’s diligent efforts.”
Prior to serving as vice president of Corporate Development at Raytheon, Ernst led investor relations for seven years. In Institutional Investor’s 2018 “All-American Executive Team” rankings, he was ranked first place by both the buy-side and sell-side for investor relations professionals, in the Aerospace & Defense (A&D) Electronics industry.
Ernst joined Raytheon in January 2010 as director, Competitive Assessment for Corporate Strategy. Previously, he held senior equity analyst positions at Balyasny Asset Management and Neuberger Berman, covering aerospace and defense and other industry sectors. He holds a Bachelor of Arts in History from DePauw University and a Master of Business Administration with an emphasis in Finance and Corporate Strategy from the University of Michigan's Ross School of Business. He is also a designated Certified Treasury Professional.
Cribbins, who has served the Company for 23 years, has held the role of vice president of investor communications since 2014. In this role, Cribbins has engaged and educated investors through the sale of most GE Capital assets as well as GE’s CEO succession, recent strategic review and plan to refocus its portfolio and structure, and investments for growth in digital and additive manufacturing technologies.
Cribbins joined GE in 1995 and is a graduate of GE’s Financial Management Program and Corporate Audit Staff. He proceeded to assume increasingly senior roles in finance in the company, including chief financial officer for GE Capital Asia, GE Commercial Finance Asia and GE Energy Financial Services; global financial planning and analysis manager for GE Capital; and led GE’s Corporate Audit Staff program. In 2018, Cribbins ranked first in Institutional Investor’s “IR Professional” for multi-industrials.
GE (NYSE:GE) drives the world forward by tackling its biggest challenges: Energy, health, transportation—the essentials of modern life. By combining world-class engineering with software and analytics, GE helps the world work more efficiently, reliably, and safely. For more than 125 years, GE has invented the future of industry, and today it leads new paradigms in additive manufacturing, materials science, and data analytics. GE people are global, diverse and dedicated, operating with the highest integrity and passion to fulfill GE’s mission and deliver for our customers. http://www.ge.com
GE Investor Contact:
Matt Cribbins, 617.443.3400
https://www.genewsroom.com/press-releas ... ons-284421
General Electric Company (NYSE: GE) CEO John Flannery finally concluded his strategic review, and did so with a bang. The announcement to separate GE healthcare as a stand-alone company was framed as a strategic decision, but it almost seems to be a forced response to weakness in GE's power and capital segments. Let's take a look at what happened and why, and how it changes the investment proposition.
https://finance.yahoo.com/news/ge-apos- ... 00322.html
https://uk.finance.yahoo.com/news/cfm-c ... 27070.html
https://finance.yahoo.com/news/ge-trans ... 00327.html
https://finance.yahoo.com/news/ge-exten ... 03304.html
Industrial conglomerate General Electric Company GE is aiming to become a high-tech industrial company. It intends to focus on just three core segments — power, aviation and renewable energy — and gradually exit all other businesses.
Per its restructuring plans, the company will separate GE Healthcare and turn it into a stand-alone company while will also exit its oil and gas businesses. Beside these, GE Transportation will be sold to Wabtec Corporation and efforts are on track to shrink exposure in GE Capital business. In addition, the company structural costs by more than $2 billion in 2018, majority of which is likely to come from the beleaguered power segment that sells electrical generation equipment.
In the last four trailing quarters, GE has reported a positive average earnings surprise of 3.27%, beating estimates twice for as many misses. In the last quarter, the company’s earnings of 16 cents per share exceeded the Zacks Consensus Estimate by 45.45%.
https://finance.yahoo.com/news/ge-beats ... 11935.html
https://finance.yahoo.com/video/ge-set- ... 00870.html
NEW YORK, July 20 (Reuters) - General Electric Co, a major buyer of Chinese goods, estimates new tariffs on its imports from China could raise its costs by $300 million to $400 million overall before steps to lessen the impact, Chief Executive John Flannery said on Friday.
In comment on the tariffs set up by President Donald Trump, Flannery said GE imports about $2.9 billion worth of goods annually from China, roughly 10 percent of total its imports. The cost of the tariffs "could be $300 to $400 million at a gross level before any mitigating factors," he said.
Balloki Power Plant can add up to 1,223 megawatts to the national grid, the equivalent power needed to supply up to 2.5 million Pakistani homes.
Project marks the successful completion of the third power plant in Pakistan that is equipped with GE’s record-setting HA gas turbines, following the Haveli Bahadur Shah and Bhikki facilities.
https://www.genewsroom.com/press-releas ... ant-284451