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.
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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