GE needs to end infighting, fix quality, tighten management: CEO [Reuters]
GE Aerospace (GE)
Last ge aerospace earnings: 4/30 04:02 pm
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Source: Reuters
GE needs to end infighting, fix quality, tighten management: CEO - Reuters 3 Min Read (Reuters) - General Electric Co, once seen as the epitome of corporate greatness, is trying to end infighting between its divisions, tighten up management and fix quality problems in its products, Chief Executive Officer Larry Culp said on Wednesday. The 127-year-old conglomerate, which was a storied CEO training ground under prior chiefs Jack Welch and Jeff Immelt, also needs to simplify its bewildering financial reports and become more frank with investors, Culp said. The unvarnished admissions at the annual Electrical Products Group conference in Florida underscored a cultural shift Culp is attempting since becoming GE’s first outsider CEO in October. “What we’re really trying to do is move away ... from flashing a page of 30 metrics and leaving ... the impression that we are actively managing 30 discrete initiatives,” he said. “This is ultimately all about culture.” GE shares were down 0.5% at $9
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