General Electric announces strategic plan to focus on renewable power

The US-based conglomerate, General Electric, has unveiled its new strategic plan to focus on aviation, power, and renewable energy as it streamlines its business.

The firm aims to make itself “simpler and strong” through its scheme – which has received unanimous approval from the board of directors.

“Today marks an important milestone in GE’s history,” said John Flannery, chairman and CEO of GE,” stated John Flannery, General Electric’s Chairman and CEO.

“We are aggressively driving forward as an aviation, power, and renewable energy company—three highly complementary businesses poised for future growth.”

“We will continue to improve our operations and balance sheet as we make GE simpler and stronger.”

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As part of the strategy, the company aims to offer a full range of efficient and affordable energy for both businesses and consumers.

“GE’s mission and technology change the lives of billions of people around the world,” Flannery continued.

“We will now move forward with purpose to make our company simpler and stronger and accelerate growth across our businesses.”

“I’m confident that today’s actions, in conjunction with other changes we have already made, will produce improved operating results and increased shareholder value going forward.”

“We are focused on executing the strategy and implementing the structure we’ve laid out today to position our businesses for future growth.”