General Electric (NYSE: GE) announced the brand identities of the future publicly-trading companies it plans to create via a planned separation of the core company into three different global, investment-grade, industry-leading publicly-trading corporations that will concentrate on the sectors of aviation, energy, and healthcare.
The name of its healthcare-related business will be called General Electric Healthcare the Company’s existing energy-related businesses, including Energy Financial, Digital, and Power and Renewable Energy services will be housed under the General Electric Vernova brand. All three public corporations will continue benefitting from the company’s global brand identity and heritage valued at almost $20 billion.
Details about the separation
Additionally, the company also announced that following the separation’s completion of planned spin-off stock, GE Healthcare shares will have a Nasdaq Global Select market listing under the “GEHC” ticker symbol.
By having a NASDAQ listing, General Electric Healthcare can take advantage of the exchange’s track record and profile as a global market for tech-led, innovative publicly-trading corporations, particularly in the health sector.
The company plans to complete GE Healthcare’s tax-free spin-off of shares as early as 2023, giving rise to an independent corporation driving enhancement and innovation in precision healthcare to address critical clinical and patient problems and improve patient outcomes.
Building on over a 100-year history, the company monogram and name will continue to serve as a badge of trust, quality, safety, and, most importantly, innovation.
How does management feel?
General Electric Chairman and Chief Executive Officer, Lawrence Culp, Jr. said:
“Today marks a key milestone in GE’s plan to become three independent, laser-focused companies. Leveraging GE’s multi-billion-dollar global brand gives us a competitive advantage in our end markets, allowing these businesses to win in the future.”
GE Chairman, who’s also the General Electric Aerospace Chief Executive Officer continued:
“Built on a foundation of lean and innovation, these brands will continue our mission of building a world that works and provide our customers with an important reminder of the strengths they value in GE.”
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