GE's John Flannery lacks 'vision, strategy and passion' to rebuild company-commentary

CNBC| Fri Nov 17 10:00:18 EST 2017
Throughout the twentieth century, business schools heralded General Electric (GE) as America's most iconic company. It set the standards in leadership, organization, and effective management processes. The company delivered remarkable results over its storied history, evidenced by its stature as the only original component of the Dow Jones industrial average still on the list. Today GE is becoming a shadow of its former self. On November 13, new CEO John Flannery announced the shrinking of GE's holdings to three businesses – aviation, health care and energy and power – while shedding such legacy businesses as lighting and locomotives. Flannery also declared a 50 percent dividend cut, only th..

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