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GE Names Larry Culp New Chief Executive Officer

October 08, 2018 / Courtney Bjorlin

Larry Culp, 55, former longtime chief executive officer and president of industrial equipment supplier Danaher Group, and GE board member, will take over the reins at GE from John Flannery, the industrial giant announced last week. “We will be working very hard in the coming weeks to drive superior execution, and we will move with urgency. We remain committed to strengthening the balance sheet including deleveraging…We have a lot of work ahead of us to unlock the value of GE,” Culp said in a press release. According to coverage in Reuters, “GE’s board was unhappy with the pace of the company’s turnaround under Flannery.” Analysts and industry thought leaders weighed in on what the move may mean for the IoT space.