General Electric (GE) announced on November 2, 2021, that it plans to split into three companies built around its major business units: aviation, healthcare, and energy.[1] According to the press release, GE Renewable Energy, GE Power, and GE Digital will combine and split off from the parent company in 2024, following the split of its healthcare unit company in 2023. The new energy company will encompass equipment and services for gas, coal, wind, hydropower, and nuclear power generation. It will also include renewables and digital software operations. Following the split-off of healthcare and energy, GE will be an aviation-focused company only. GE’s press release claims that the “businesses will be better positioned to deliver long-term growth and create value for customers, investors, and employees.” GE shares reached a 3-1/2 year high following the announcement, rising more than 2.6%.[2]

[1] https://www.ge.com/news/press-releases/ge-plans-to-form-three-public-companies-focused-on-growth-sectors-of-aviation

[2] https://www.reuters.com/business/sustainable-business/ge-energy-spinoff-aims-capture-interest-renewables-2021-11-09/