Tuesday, 27 June 2023 06:07

What Next for General Electric?

November 04, 2018 20:45 EDT

Challenges continue to multiply at General Electric (GE), the iconic company that Thomas Edison founded in 1892. At the end of October, Larry Culp, who recently took over as CEO, decided to cut the quarterly dividend from 12 cents a share to a penny a share.

As the news spread, GE’s stock price fell to a nine-year low of less than $10 for the first time since the financial crisis a decade ago. Media reports indicate that the US Justice Department and the Securities and Exchange Commission are looking into GE’s accounting practices.

One person who understands such challenges is Beth Comstock. She spent nearly 30 years at GE, going from chief marketing officer to vice chair. Before that, she was president of Integrated Media at NBC Universal, where she oversaw ad revenue and digital efforts, including the early development of Hulu.

The views expressed in this article are the author’s own and do not necessarily reflect Fair Observer’s editorial policy.

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