All Three Companies will Continue to Benefit
from GE Heritage
- Healthcare business to be named GE HealthCare
- GE’s portfolio of energy businesses, including GE Renewable
Energy, GE Power, GE Digital, and GE Energy Financial Services, to
come together as GE Vernova
- Aviation business to be named GE Aerospace
GE (NYSE:GE) today announced the brand names of the future
companies it will create through its planned separation into three
industry-leading, global, investment-grade public companies focused
on the growth sectors of healthcare, energy, and aviation.
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GE Healthcare Logo
GE HealthCare will be the name of GE’s healthcare business. GE’s
existing energy portfolio of businesses, including Renewable
Energy, Power, Digital, and Energy Financial Services, will sit
together under the brand name GE Vernova. GE Aerospace will be the
name of GE’s aviation business. All three planned companies will
continue to benefit from GE’s heritage and global brand valued at
nearly $20 billion*.
Additionally, GE announced today that following the completion
of the planned spin-off, shares of GE HealthCare will be listed on
The Nasdaq Global Select Market under the ticker symbol “GEHC.” By
listing on Nasdaq, GE HealthCare will benefit from the exchange’s
profile and track record as a market for innovative, technology-led
public companies, particularly in the healthcare sector.
H. Lawrence Culp, Jr., Chairman and CEO, GE, and CEO, GE
Aerospace said, “Today marks a key milestone in GE’s plan to become
three independent, laser-focused companies. Leveraging GE’s
multi-billion-dollar global brand gives us a competitive advantage
in our end markets, allowing these businesses to win in the future.
Built on a foundation of lean and innovation, these brands will
continue our mission of building a world that works and provide our
customers with an important reminder of the strengths they value in
GE.”
GE intends to execute the tax-free spin-off of GE HealthCare in
early 2023, creating an independent company driving innovation in
precision health to improve patient outcomes and address critical
patient and clinical challenges. Building on a more than 100-year
history, the GE HealthCare name and Monogram will serve as an
enduring badge of safety, quality, trust, and innovation. The new
brand color for GE HealthCare is called “compassion purple” to
reflect more humanity and warmth and achieve greater distinction.
The company will continue to be at the forefront of provider and
patient care with more than four million product installations and
over two billion patient exams a year.
In early 2024, GE plans to execute the tax-free spin-off of GE
Vernova, GE’s portfolio of energy businesses, which together with
its customers provides one-third of the world’s electricity and is
focused on accelerating the path to reliable, affordable, and
sustainable energy. The new name is a combination of “ver,” derived
from “verde” and “verdant” to signal the greens and blues of the
Earth, and “nova,” from the Latin “novus,” or “new,” reflecting a
new and innovative era of lower carbon energy that GE Vernova will
help deliver. These attributes also are reflected in GE Vernova’s
new “evergreen” brand color. With an installed base of more than
7,000 gas turbines and 400 GW of renewable energy equipment, GE
Vernova’s Monogram will serve as a reminder of the company’s
lasting commitments to deliver quality, partnership, and ingenuity
to its customers.
Following these planned spin-offs, GE will be an
aviation-focused company called GE Aerospace. With an installed
base of 39,400 commercial and 26,200 military aircraft engines, the
company will continue to play a vital role in supporting the
industry through a historic recovery while shaping the future of
flight. The GE Monogram, new name, and new “atmosphere blue” brand
color—representing the upper limits of the atmosphere—maintain the
brand’s strong standing in the aviation sector, while setting forth
a confident vision to compete and advance in the field of aerospace
and defense for future generations. Following the planned
separations, GE Aerospace would own the GE trademark and would
provide long-term licenses to the other companies.
GE Chief Marketing Officer Linda Boff said, “Over the course of
the last six months, we engaged in a thorough, customer-led process
to understand the intrinsic value of the GE brand for our planned
future companies. Based on data and analysis drawn from thousands
of conversations, it became clear that the GE name and our
century-plus old Monogram represent a legacy of innovation, symbol
of trust by global customers, pride for our team, and a talent
magnet for future leaders. We’re proud these future businesses will
be able to build on GE’s DNA of innovation.”
By creating three separate companies, each will benefit from
greater focus, tailored capital allocation, and strategic
flexibility to drive long-term growth and value.**
Click here to watch Culp and Boff discuss the new brands.
*According to Interbrand Best Global Brands 2021.
**These plans may be subject to the outcome of legally mandated
consultation in some parts of the world.
Caution Concerning Forward-Looking Statements
This document contains forward-looking statements related to
future events that by their nature address matters that are, to
different degrees, uncertain. For details on the uncertainties that
may cause our actual future results to be materially different than
those expressed in our forward-looking statements, see
https://www.ge.com/investor-relations/important-forward-looking-statement-information,
as well as our SEC filings. We do not undertake to update our
forward-looking statements.
About GE
GE (NYSE:GE) rises to the challenge of building a world that
works. For more than 130 years, GE has invented the future of
industry, and today the company’s dedicated team, leading
technology, and global reach and capabilities help the world work
more safely, efficiently, and reliably. GE’s people are diverse and
dedicated, operating with the highest level of integrity and focus
to fulfill GE’s mission and deliver for its customers.
www.ge.com
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GE Investor Contact Steve Winoker 617.443.3400
swinoker@ge.com
GE Media Contacts Mary Kate Mullaney 202.304.6514
marykate.nevin@ge.com
Micah Stockett 423.596.8901 micah.johnson@ge.com
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