NEW YORK: General Electric’s newly-installed chief executive has vowed to do whatever it takes to turn around the industrial giant after weak quarterly results initially sent shares plunging.
“It’s clear we need to make some major changes,” John Flannery said. “Our results are unacceptable to say the least.” Flannery, who replaced Jeff Immelt over the summer, faced tough questions from analysts after GE reported lower third-quarter earnings and cut its full-year forecast due to continued weakness in the power and oil and gas businesses.
Published in Dawn, October 22nd, 2017
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