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
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