General Electric reveals brand names of three planned future public companies

General Electric (GE)  has announced the brand names of the future companies it will create through its planned separation into three global, investment-grade public companies focused on the growth sectors of healthcare, energy and aviation.

GE HealthCare will represent the company’s healthcare business. Its existing energy portfolio of businesses, including renewable energy, power, digital, and energy financial services, will sit together under the brand name GE Vernova. GE Aerospace will represent the company’s aviation business. All three planned companies will continue to benefit from the global brand valued at nearly $20bn.

Additionally, GE announced that following the completion of the planned spin-off, shares of GE HealthCare will be listed on The Nasdaq Global Select Market under the ticker symbol “GEHC”.

Lawrence Culp, Jr, chairman and CEO, GE, and CEO, GE Aerospace said, it’s “a key milestone in GE’s plan to become three independent, laser-focused companies. Leveraging GE’s multi-billion-dollar global brand gives us a competitive advantage in our end markets, allowing these businesses to win in the future. Built on a foundation of lean and innovation, these brands will continue our mission of building a world that works and provide our customers with an important reminder of the strengths they value in GE”.

GE intends to execute the tax-free spin-off of GE HealthCare in early 2023, creating an independent company driving innovation in precision health to improve patient outcomes and address critical patient and clinical challenges.

In early 2024, GE plans to execute the tax-free spin-off of GE Vernova. GE’s portfolio of energy businesses, which together with its customers provides one-third of the world’s electricity and is focused on accelerating the path to reliable, affordable, and sustainable energy. The company has an installed base of more than 7,000 gas turbines and 400 GW of renewable energy equipment.

Following these planned spin-offs, GE will be an aviation-focused company called GE Aerospace. With an installed base of 39,400 commercial and 26,200 military aircraft engines, the company will continue to play a vital role in supporting the industry through a historic recovery while shaping the future of flight. Following the planned separations, GE Aerospace would own the GE trademark and would provide long-term licenses to the other companies.

GE chief marketing officer Linda Boff said, “Over the course of the last six months, we engaged in a thorough, customer-led process to understand the intrinsic value of the GE brand for our planned future companies. Based on data and analysis drawn from thousands of conversations, it became clear that the GE name and our century-plus old Monogram represent a legacy of innovation, symbol of trust by global customers, pride for our team, and a talent magnet for future leaders. We’re proud these future businesses will be able to build on GE’s DNA of innovation.”