Following these transactions, GE will be an aviation-focused company, renaming itself as GE Aerospace, and will be the legal successor of the original GE. This will be followed by the spin-off of GE's portfolio of energy businesses which plan to become GE Vernova in 2024. The first spin-off of GE HealthCare was finalized on January 4, 2023, with GE holding 19.9% of shares. The new companies will be focused on aerospace, healthcare, and energy (renewable energy, power, and digital).
On July 18, 2022, GE unveiled the brand names of the companies it will create through its planned separation: GE Aerospace, GE HealthCare and GE Vernova. On November 9, 2021, the company announced it would divide itself into three investment-grade public companies. Two employees of GE – Irving Langmuir (1932) and Ivar Giaever (1973) – have been awarded the Nobel Prize. In 2011, GE ranked among the Fortune 20 as the 14th most profitable company, but later very severely underperformed the market (by about 75%) as its profitability collapsed. In 2020, GE ranked among the Fortune 500 as the 33rd largest firm in the United States by gross revenue. The company operated in sectors including healthcare, aviation, power, renewable energy, digital industry, additive manufacturing and venture capital and finance, but has since divested from several areas, now primarily consisting of the second, third and fourth segments. General Electric Company ( GE) is an American multinational conglomerate founded in 1892, and incorporated in New York state and headquartered in Boston.
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