General Electric will split into three separate companies in a stunning breakup of the iconic manufacturer founded by Thomas Edison whose sprawling businesses once made it the world’s most valuable company. The shares surged. From a report: GE will spin off its health care business in early 2023 and combine its renewable energy, fossil-fuel power and digital units into a single energy-focused entity that will be spun off a year later, the company said Tuesday. The remaining company will consist of GE Aviation, its jet-engine division. “What we’re doing today is creating three outstanding investment-grade, global leaders in health care, aviation and energy,” Chief Executive Officer Larry Culp said in an interview. “GE has led in these markets for a long time and today we’re setting ourselves up for another century of leadership.”

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Source: Slashdot – GE Will Split Into Three Units, Ending Conglomerate for Good