Rumor on the street that board of directors are unhappy with his performance and they want him out. Any one else heard this?
17 replies (most recent on top)
Rolls Energy is now owned by Siemens.
Pratt Power Systems is owned by MHI.
GM you need to stop posting here.
Not quite. Because of common R&D and focus on differentiation through technology, GE had premium pricing position. It is going to erode without GRC and reduced efficiency if knowledge sharing across BUs.
You have to take a long term view (decades) not go with anecdotal GRC project that failed or just was not turned into a product. 10%success rate is best in class.
Combustors have synergy is also lazy strategy. Annular vs. can 14 or 18 cans, 3 ppm Nox, Jet A vs. Natural Gas.
"Siemens and MHI are viable power businesses without Aviation tech and Rolce, United don't have HDGT. " Unless those companies are fed technology from GRC, it sounds like we agree that GRC is unnecessary.
Aviation and power are different businesses, regulations, controls, biz models, customers and business cycles.
Matrials tech, combustion etc were shared work done by GRC. It is cheaper for each to do their own R&D but not cheap at Corporate level. Without GRC managed by corporate priorities local optimization will prevail and they might as well be different companies.
Rotating things have synergy is lazy strategy. Siemens and MHI are viable power businesses without Aviation tech and Rolce, United don't have HDGT. Value of GE was there was a common tech, people, processes and culture across 11 business units. With 2 (ok 3) units, each fighting their battles, corporate overhead can't be justified - they don't add any value in a few years. Unless JF is replaced by someone with a vision for growth into new markets. Like IBM or apple.
Yep...We are non-union, but we have a solid voice.
Solid intel that a lot of 273 is moving to GE Bangor.... non union...non b--ching workforce.
GRC is under Aviation CEO’s control after recent power struggle.
Stock price in the $11’s and falling isn’t helping his cause.
@UEvIhvH-1rmy - without GRC there is no common technology between a gas turbine spinning a fan and a gas turbine spinning a generator?
I'm not sure I follow that...
Yes, Culp is in there to take over
Someone the board (Trian?) Doesn't want dividend cut. No one is looking after employees, customers or small shar holders.
JF is moving decisions to businesses, may be as a step to totally break up the company. There is very little synergy between the three businesses, no matter the spin they put on about past sharing through GRC research. Without GRC, there is no common technology.
In 3 years there will be 3 separate businesses.
I am not sure how any shareholder and the board can be happy with him. Look at the stock price since he took over.
Any monkey could have developed this plan to sell off assets that MAKE money and are worth money. I have noticed that folks that where once part of GE in some high positions are asking what the heck is he doing. Cut the dividend and be done with it. Stop selling off parts of the business. Maybe if they worked on making GE a great place to work they will start closing deals and people would work harder. All GE leadership has done for years is steal pennies from all the employees to line their leadership pockets. They have screwed every employee by taking away decent healthcare, pensions, bonus’s, stock options, you name it. GE s---s to work for , the company will NEVER do well until they fix this GE mentality within the 4 walls. Also, GE cannot integrate any company they have purchased over the years. That has been one of the major issues of GE for many, many years. In fact , any company acquired by GE is pretty much death wish to them until GE decides to sell them down the road. So, why is GE promoting leadership from within to be a CEO? It worked for only so long with neutron jack , Jeff was a bust, John is a bust. In my life time of investing in GE the company has cost me some serious savings betting that they would get their act together. It is one excuse after another.
If you're referring to the article about him "throwing in the towel" by SA, the article was about his approach to selling things off, not leaving the company..........yet.
Once the stock hits $11 as Steve Tusa from JPM has been mentioning as the target, the stock owners will finally show John the love they have been saving as the stock price has cratered.
No, the board loves him. But more than a few shareholders are fed up already and want him replaced.
No, no one else heard this.