Analysts said the surprise charges announced by GE had hurt the company's credibility with investors as it comes just two months after Chief Executive John Flannery issued a detailed plan to reset the company's financial targets
NEW YORK: General Electric Co’s (GE) new boss wants to reassure shell-shocked investors that he knows just how tough the past year has been - and that he has a plan to turn things around.
In his first annual shareholder letter, chief executive officer Larry Culp outlined his priorities as he tries to pull the iconic manufacturer out of a tailspin. After a chaotic 2018 marked by “weak execution,’’ Culp said he is looking to revamp the company’s power business, rebuild the diminished dividend and reduce debt.
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