GE GE Aerospace

   By Kimberly Chin 
 

General Electric Co. (GE) on Monday replaced Chief Executive John Flannery after 14 months in the job. GE named Larry Culp, who joined the board earlier this year, as its new chairman and CEO.

Here is a timeline of Mr. Flannery's time as the head of GE.

June 12, 2017

GE announces long-time CEO Jeff Immelt to step down, ending a 16-year run atop the conglomerate. John Flannery, then-head of GE's healthcare business, is named as his successor.

Aug. 1, 2017

Mr. Flannery takes the helm, telling employees in a letter that "we need an intense focus on running the company well," and says he is reviewing GE's massive portfolio.

Nov. 13, 2017

GE cuts its dividend in half and unveils plans to streamline its operations to focus on healthcare, aviation, and power, with Mr. Flannery saying GE is "going to be a smaller, a simpler business."

Feb. 15, 2018

GE reaches a deal to sell parts of its overseas lighting business to a company controlled by Joerg Bauer, the former president of GE Hungary. The process of selling the lighting business began under former CEO Jeff Immelt.

May 21, 2018

GE agrees to merge its railroad business with Wabtec Corp. (WAB) in an $11 billion deal.

June 25, 2018

GE agrees to sell a unit that makes large industrial engines to private-equity firm Advent International.

June 26, 2018

GE says it will spin off its healthcare division and exit its ownership stake in Baker Hughes. The two businesses, along with its transportation unit, accounted for a third of GE's $122 billion in revenue in 2017.

July 30, 2018

GE seeks a buyer for key parts of GE Digital, a once highly touted software unit.

Oct. 1, 2018

GE ousts John Flannery and elects Larry Culp to succeed him as CEO and chairman. Mr. Culp has been a member of GE's board since April.

Write to Kimberly Chin at kimberly.chin@wsj.com

(END) Dow Jones Newswires

October 01, 2018 10:44 ET (14:44 GMT)

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