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Breaking News: General Electric CEO John Flannery is Out

Business Insider

General Electric head John Flannery is out after just more than a year at the top of the company. He will be replaced as chairman and CEO by  H. Lawrence Culp, Jr.

GE said it will take a $23 billion goodwill charge for its power business. It also warned that it will miss its 2018 earnings-per-share gudiance.

GE shares are up more than 10% on the news...

 

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