Fortune· 2h ago· 1 min read
Good morning. Larry Culp’s overhaul of General Electric is emerging as a modern benchmark in balance-sheet repair, operating discipline, and value creation, turning a near-distressed industrial icon into three focused, high-performing public companies.
“How GE CEO Larry Culp pulled off the turnaround of the century,” a new Fortune feature by my colleague Shawn Tully, offers an in-depth account of how Culp joined GE to steer the transformation of the conglomerate into three public companies now worth nearly $700 billion in aggregate—roughly double the S&P 500’s annualized return over his tenure.
When Culp arrived in 2018, GE’s market cap had collapsed to about $96 billion—down more than 80% from its 2000 peak—and the company was weighed down by roughly $150 billion of debt and chronic cash flow underperformance, Tully writes. His first moves prioritized deleveraging and simplification…
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