GE’s Energy Business Will Have a New Name—Vernova
General Electric (GE) is again announcing changes to its corporate structure, with the company on July 18 saying its energy and other businesses will operate under new brand names.
H. Lawrence Culp Jr., the company’s chairman and CEO, and CEO of GE Aerospace, on Monday said the strategy involves a planned separation into three groups, focused on energy, healthcare, and aviation. GE’s existing energy businesses, including its Power, Digital, Renewable Energy, and Energy Financial Services, will carry the brand name GE Vernova. GE Aerospace will be GE’s aviation business. The healthcare business will operate under the GE HealthCare banner.
“Today marks a key milestone in GE’s plan to become three independent, laser-focused companies,” said Culp. “Leveraging GE’s multi-billion-dollar global brand gives us a competitive advantage in our end markets, allowing these businesses to win in the future. Built on a foundation of lean and innovation, these brands will continue our mission of building a world that works and provide our customers with an important reminder of the strengths they value in GE.”…
