GE unveils new reorganisation of its divisions

General Electric Co (GE) unveiled a sweeping reorganisation of its companies on Thursday as chairman Jeff Immelt seeks to boost the US conglomerate’s growth in global industries such as include energy, transportation, infrastructure, healthcare, NBC-Universal and advanced materials.

NBC-Universal is the combination of GE’s NBC television network with Vivendi Universal Entertainment, home to Universal Pictures.

In an email sent to GE employees, Immelt said he wants to streamline the corporation’s divisional headquarters while emphasising GE’s future as a technology, services and finance company.

The shake-up comes as Immelt pushes for GE’s return to 10 per cent or better annual earnings growth, a benchmark that has eluded him since taking over from chairman Jack Welch in 2001.