On an item posted to the Fox Business news website, The Wall Street Journal reported that General Electric Co. (GE) Chairman and Chief Executive Jeff Immelt said Tuesday that the company may consider spinning off GE Capital to simplify its structure, although it's not currently pursuing any such move.
According to the report, Immelt said, "Our challenge is always structure and bureaucracy. Every 10 or 15 years in a company like GE you have to kind of be willing to blow it up a little bit internally and start over again," during a meeting in Sydney about the company's wider strategy.
When talking specifically about plans for the GE Capital unit, Immelt said General Electric wasn't actively working on any spin off. "But I'd never say never." he added. According to The Wall Street Journal story, Immelt added, "We always look at what are the right capital market alternatives for the company and what makes sense for where we are. We sold our media business, right." Immelt said.
Read the full story on Fox Business.