Regime Change at GE: Flannery Out After a Year as CEO

By [email protected] Turning a big ship takes time, but GE lost faith in its captain.

The board ousted CEO John Flannery Monday and replaced him with Lawrence Culp, the former CEO of Danaher Corporation, a publicly traded technology manufacturing conglomerate. The dismissal ended Flannery’s push to modernize GE after just a year in office.

The company’s stock price leaped 15 percent after the announcement Monday morning, before coming down from that spike.

GE’s empire spans electric power, transportation, aviation and healthcare. The century-old company has strived to reposition itself as a “digital-industrial” powerhouse.

That effort is complicated by ongoing market shifts. The growth of wind and

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