Well I think CEO is about to make some major moves in Power very soon— I could be wrong but it does not look promising at all.
GE's power business has been losing money and is the top priority in Culp's efforts to turn around the company.
"No business consumes more of my time right now," Culp said.
Culp also affirmed on Thursday that GE expects negative free cash flow in the second quarter, and said GE's power division plans to cut costs by about 20% over the next two years as it tries to become leaner.
Culp said GE cut $800 million in costs at the power unit last year, and has plans to cut another $1.6 billion.
I don’t think the CEO will be stalling anymore this year in Power.