General Electric, the iconic industrial corporation of the late 20th century, once a sprawling conglomerate renowned for its management prowess, is making a final break with its storied past.
The 129-year-old company announced on Tuesday that it planned to break itself into three publicly traded businesses, the latest effort to simplify its business and lift its stagnant stock price.
In a conference call with analysts, H. Lawrence Culp, an outsider brought in as chief executive three years ago, described the planned breakup as a “defining moment” for G.E. and the culmination of his effort to remake it as a “more focused, simpler, stronger high-tech industrial company.”
