General Electric needs to end infighting, fix quality, tighten management, says CEO [Toronto Globe and Mail (Ontario, Canada)]
GE Aerospace (GE)
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Source: Toronto Globe and Mail
General Electric needs to end infighting, fix quality, tighten management, says CEO 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. Story continues below advertisement “What we’re really trying to do is move away … from flashing a page of 3 metrics and leaving … the impression that we are actively managing 3 discrete initiatives,” he said. “This is ultimately all about culture.” GE shares were
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