GE announces plans to reorganize GE Power business

Announcing its third quarter 2018 results, GE revealed plans to reorganize GE Power business aiming to „improve cost structure, enhance execution agility, and drive better outcomes for customers and investors,“ the company press release said.

GE Power will be split to create two units, one of which will be a unit constituting the portfolio of GE Power’s other assets including Steam, Grid Solutions, Nuclear, and Power Conversion.

The company also intends to consolidate Power’s headquarters structure to ensure these units can best serve their customers, according to the press release.

Source: GE