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After A Historic Split, GE Discloses Names Of Three Entities.

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After A Historic Split, GE Discloses Names Of Three Entities.
20 Jul 2022
5 min read

News Synopsis

Including a mashup of words that will make up the name of the new energy firm, General Electric (GE) has disclosed the names of the three entities that will function independently after the historic separation of the once-conglomerate.

In November, GE declared its intention to divide into three businesses with a focus on aviation, healthcare, and energy. The name of the aviation division under CEO Larry Culp, which will effectively make up the remainder of GE, will be callede. The energy division will be known as GE Vernova and will include GE Renewable Energy, GE Power, GE Digital, and GE Energy Financial Services. 

"The new name combines the words "ver," which is derived from "verde" and "verdant," to signify the earth's greens and blues, and "new." GE Vernova will assist in bringing about a new and innovative era of reduced carbon energy with the name "nova," which comes from the Latin "novus," or "new." The firm stated the company will be known as GE Healthcare.

The massive American conglomerate had been paring for years before the split, which signalled a departure from the corporate structure that had long dominated U.S. business. Appliances, one of the company's best-known items among Americans, have already being phased out. In 2020, GE will stop producing the light bulbs it has been producing since the company's founding in the late 19th century.

The separation, which involves dividing up an enterprise built in the 1980s under Jack Welch, one of America's first CEO "superstars," represents the pinnacle of those efforts.

GE HealthCare will be listed on the Nasdaq under the ticker symbol "GEHC," the firm announced recently. Early in the next year, GE intends to spin off its operations tax-free.

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