History
A company-wide reorganization prompted by financial losses led to the unit's formation in 2008 from companies within GE Infrastructure.
On March 29, 2011, GE Energy announced plans to acquire a 90% stake in Converteam for $3.2 billion.
By the end of 2012, John Krenicki stepped down as president of GE Energy in a move to break the energy businesses into the following three independent sub-businesses:
- GE Energy Management
- GE Oil & Gas
- GE Power & Water.
This is seen as an effort to drive simplification and visibility in GE.
Read more about this topic: GE Energy
Famous quotes containing the word history:
“We aspire to be something more than stupid and timid chattels, pretending to read history and our Bibles, but desecrating every house and every day we breathe in.”
—Henry David Thoreau (1817–1862)
“the future is simply nothing at all. Nothing has happened to the present by becoming past except that fresh slices of existence have been added to the total history of the world. The past is thus as real as the present.”
—Charlie Dunbar Broad (1887–1971)
“The history of work has been, in part, the history of the worker’s body. Production depended on what the body could accomplish with strength and skill. Techniques that improve output have been driven by a general desire to decrease the pain of labor as well as by employers’ intentions to escape dependency upon that knowledge which only the sentient laboring body could provide.”
—Shoshana Zuboff (b. 1951)