GE's Immelt steps down, Flannery moves up amid Trian squeeze

GE has recruited its new CEO from the health-care division, as current Chief Exec Jeffrey Immelt is stepping down. The stock soared the most in 20 months.
Photo: /ritzau/AP/Thibault Camus
Photo: /ritzau/AP/Thibault Camus
BY RICHARD CLOUGH, BLOOMBERG

Jeffrey Immelt is stepping down as chairman and chief executive of General Electric Co., bringing to an end a tumultuous 16-year tenure in which he dramatically reshaped the manufacturing powerhouse but failed to win over Wall Street.

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