General Electric on Tuesday completed its breakup into three companies, marking the end of an era for the industrial conglomerate pioneer that was once a symbol of American business power.
The breakup is a culmination of CEO Larry Culp’s efforts to breathe life into the company that ran into struggles, including the 2008 financial crisis that nearly bankrupted its most profitable business, GE Capital. Some Wall Street industrial analysts have been handing over coverage of GE to their aerospace and energy counterparts and have reminisced covering a company that emerged after famed inventor Thomas Alva Edison merged Edison General Electric Co with a rival to form GE in the late 1800s.
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