Struggling GE removes CEO, warns on 2018 earnings

Struggling GE removes CEO, warns on 2018 earningsEmbattled US engineering giant General Electric on Monday removed its CEO and warned it would fall short of its 2018 earnings guidance as the conglomerate's cash flow struggles continue. H. Lawrence Culp is taking over immediately as chairman and CEO to replace John Flannery, with the latter stepping down after barely more than a year in his position, the firm said in a statement. The company said because of weaker performance in the GE Power business, the company would fall short of previous profit guidance for this year.




from Yahoo News - Latest News & Headlines https://ift.tt/2Ovn0sc
via Latest News

Comments

Post a Comment

Popular posts from this blog

Apple is taking up to $150 off the Beats Studio Pro and Studio Buds Plus - The Verge

Apple is taking up to $150 off the Beats Studio Pro and Studio Buds Plus    The Verge Amazon is having a major sale on Beats Studio Pro wireless headphones with $150 off    NJ.com Beats Headphones and Earbuds See Up to 43% in Savings at Apple and Amazon    CNET Apple Launches Big Discounts on Beats Earphones    MacRumors Apple launches Beats spring sale on latest Studio Pro headphones at $200 and Studio Buds+ at $130    9to5Toys from Technology - Latest - Google News https://ift.tt/3NZjEGc via Technology
Read more