GE shifts strategy, financial targets as it goes digital
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GENERAL Electric (GE) wants its industrial software business to cut costs and lift profits next year under new chief executive John Flannery, and is considering expanded partnerships and the possible sale of some equity in the unit, according to people familiar with the business.
Former chief executive Jeffrey Immelt spent six years and more than US$4 billion transforming 125-year-old GE into a "digital industrial" company. But GE has had technical problems and delays with its software platform, known as Predix, which connects equipment such as turbines and elevators to computers that can predict failures and reduce operating costs.
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