CEO Larry Culp hails Jamie Miller's "many contributions to GE’s significant transformation" but says it was time for a CFO change.
The company expects its turnaround strategy to yield "significantly better" performance after a "reset" year in 2019.
The $21 billion sale to Danaher is a "pivotal milestone" in GE's plan to reduce debt and strengthen its balance sheet, CEO Larry Culp says.
The downsizing from a 12-story tower to two renovated warehouses marks another retreat from the ambitions of former CEO Jeff Immelt.
The company's new CEO says an overhaul of the struggling power business is among his immediate priorities.
The removal of John Flannery after a year on the job reflects "the board's frustration with the slow pace of change under his leadership.”
