General Electric Stock Gains As CEO Culp Takes Over Aviation Unit

Updated at 11:25 am EST

General Electric  (GE) – Get General Electric Company Report shares moved higher Monday after the it said CEO Larry Culp will take over the leadership role at the industrial group’s aviation unit.

The move, which will see current CEO John Slattery moving to the role of  chief commercial officer in the business division, forms one of the key planks of GE’s plans to to split into three separate companies that it unveiled in December.

Slattery had been first identified as the Aviation division’s likely boss, and solid improvements in both orders, which grew 31% over the first quarter, and profits, which were up 42% at $908 million, appeared to cement that assumption.

Source: https://www.thestreet.com/markets/general-electric-stock-gains-as-ceo-culp-takes-over-aviation-unit?puc=yahoo&cm_ven=YAHOO&yptr=yahoo