|
|
John FlanneryGE today dropped a bombshell on Wall Street, dumping CEO John Flannery, 56, after a 14-year stint and replacing him with the first outsider to head the storied company.
Larry Culp, the 55-year-old CEO of Danaher Corp and GE director, moves into the CEO office that has been vacated by Flannery, whose tenure in the top spot is the shortest in GE’s 126-year history.
In firing Flannery, GE announced that while most of its businesses are “generally performing consistently with previous guidance,” weaker results in the power unit will lead to a $23B non-cash goodwill impairment charge.
The conglomerate’s management shake-up release omits the customary boilerplate about thanking Flannery for his 31 years of service.
The ousted exec joined GE Capital in 1987, headed business development in 2013 where he engineered the largest industrial acquisition (Alstrom) in GE's history and beginning in 2014 guided the turnaround of GE healthcare before assuming the helm from Jeff Immelt in August 2017.
There’s a fine line between newsjacking and taking advantage, aka ambulance chasing. Our job as PR professionals is to tread it carefully.
PR firms need to be mindful of ways their work product may be protected by the attorney-client privilege whenever working with a client’s internal legal team or its external legal counsel.
Manuel Rocha, former US ambassador and intenational business advisor to LLYC, plans to plead guilty to charges that he was a secret agent for Cuba.
CEO mentoring is an often-overlooked aspect of why CEOs are able to make good decisions, and sometimes make bad ones—all of which intersects with the role and duties of a board. 
How organizations can anticipate, prepare and respond to crises in an increasingly complex world where a convergent landscape of global challenges, threats and risks seem to arrive at an unrelenting pace.
Have a comment? Send it to 
No comments have been submitted for this story yet.