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<\/p>\nAll Three Companies will Continue to Benefit from GE Heritage <\/p>\n
\u2022\tHealthcare business to be named GE HealthCare
\n\u2022\tGE\u2019s portfolio of energy businesses, including GE Renewable Energy, GE Power, GE Digital, and GE Energy Financial Services, to come together as GE Vernova
\n\u2022\tAviation business to be named GE Aerospace<\/p>\n
ISLAMABAD \u2013 GE (NYSE:GE) today announced the brand names of the future companies it will create through its planned separation into three industry-leading, global, investment-grade public companies focused on the growth sectors of healthcare, energy, and aviation. <\/p>\n
GE HealthCare will be the name of GE\u2019s healthcare business. GE\u2019s existing energy portfolio of businesses, including Renewable Energy, Power, Digital, and Energy Financial Services, will sit together under the brand name GE Vernova. GE Aerospace will be the name of GE\u2019s aviation business. All three planned companies will continue to benefit from GE\u2019s heritage and global brand valued at nearly $20 billion*.<\/p>\n
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Additionally, GE announced today that following the completion of the planned spin-off, shares of GE HealthCare will be listed on The Nasdaq Global Select Market under the ticker symbol \u201cGEHC.\u201d By listing on Nasdaq, GE HealthCare will benefit from the exchange\u2019s profile and track record as a market for innovative, technology-led public companies, particularly in the healthcare sector.<\/p>\n
H. Lawrence Culp, Jr., Chairman and CEO, GE, and CEO, GE Aerospace said, \u201cToday marks a key milestone in GE\u2019s plan to become three independent, laser-focused companies. Leveraging GE\u2019s 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.\u201d<\/p>\n
GE intends to execute the tax-free spin-off of GE HealthCare in early 2023, creating an independent company driving innovation in precision health to improve patient outcomes and address critical patient and clinical challenges. Building on a more than 100-year history, the GE HealthCare name and Monogram will serve as an enduring badge of safety, quality, trust, and innovation. The new brand color for GE HealthCare is called \u201ccompassion purple\u201d to reflect more humanity and warmth and achieve greater distinction. The company will continue to be at the forefront of provider and patient care with more than four million product installations and over two billion patient exams a year.<\/p>\n
In early 2024, GE plans to execute the tax-free spin-off of GE Vernova, GE\u2019s portfolio of energy businesses, which together with its customers provides one-third of the world\u2019s electricity and is focused on accelerating the path to reliable, affordable, and sustainable energy. The new name is a combination of \u201cver,\u201d derived from \u201cverde\u201d and \u201cverdant\u201d to signal the greens and blues of the Earth, and \u201cnova,\u201d from the Latin \u201cnovus,\u201d or \u201cnew,\u201d reflecting a new and innovative era of lower carbon energy that GE Vernova will help deliver. These attributes also are reflected in GE Vernova\u2019s new \u201cevergreen\u201d brand color.<\/p>\n
With an installed base of more than 7,000 gas turbines and 400 GW of renewable energy equipment, GE Vernova\u2019s Monogram will serve as a reminder of the company\u2019s lasting commitments to deliver quality, partnership, and ingenuity to its customers. <\/p>\n
Following these planned spin-offs, GE will be an aviation-focused company called GE Aerospace. With an installed base of 39,400 commercial and 26,200 military aircraft engines, the company will continue to play a vital role in supporting the industry through a historic recovery while shaping the future of flight. The GE Monogram, new name, and new \u201catmosphere blue\u201d brand color\u2014representing the upper limits of the atmosphere\u2014maintain the brand\u2019s strong standing in the aviation sector, while setting forth a confident vision to compete and advance in the field of aerospace and defense for future generations. Following the planned separations, GE Aerospace would own the GE trademark and would provide long-term licenses to the other companies.
\nGE Chief Marketing Officer Linda Boff said, \u201cOver the course of the last six months, we engaged in a thorough, customer-led process to understand the intrinsic value of the GE brand for our planned future companies. Based on data and analysis drawn from thousands of conversations, it became clear that the GE name and our century-plus old Monogram represent a legacy of innovation, symbol of trust by global customers, pride for our team, and a talent magnet for future leaders. We\u2019re proud these future businesses will be able to build on GE\u2019s DNA of innovation.\u201d
\nBy creating three separate companies, each will benefit from greater focus, tailored capital allocation, and strategic flexibility to drive long-term growth and value.**
\n*According to Interbrand Best Global Brands 2021.
\n**These plans may be subject to the outcome of legally mandated consultation in some parts of the world.
\nCaution Concerning Forward-Looking Statements
\nThis document contains forward-looking statements related to future events that by their nature address matters that are, to different degrees, uncertain. For details on the uncertainties that may cause our actual future results to be materially different than those expressed in our forward-looking statements, see https:\/\/www.ge.com\/investor-relations\/important-forward-looking-statement-information, as well as our SEC filings. We do not undertake to update our forward-looking statements. <\/p>\n
About GE
\nGE (NYSE:GE) rises to the challenge of building a world that works. For more than 130 years, GE has invented the future of industry, and today the company\u2019s dedicated team, leading technology, and global reach and capabilities help the world work more safely, efficiently, and reliably. GE\u2019s people are diverse and dedicated, operating with the highest level of integrity and focus to fulfill GE\u2019s mission and deliver for its customers. www.ge.com<\/p>\n","protected":false},"excerpt":{"rendered":"
All Three Companies will Continue to Benefit from GE Heritage \u2022 Healthcare business to be named GE HealthCare \u2022 GE\u2019s portfolio of energy businesses, including GE Renewable Energy, GE Power, GE Digital, and GE Energy Financial Services, to come together as GE Vernova \u2022 Aviation business to be named GE Aerospace ISLAMABAD \u2013 GE (NYSE:GE) […]<\/p>\n","protected":false},"author":2,"featured_media":271974,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":{"0":"post-271972","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-national"},"yoast_head":"\n