Tag: Jeff Bornstein

New GE chief vows turnaround after ‘unacceptable’ results

by John Biers Agence France-Presse NEW YORK, United States (AFP) – General Electric’s newly-installed chief executive vowed Friday to do whatever it takes to turn around the industrial giant after weak quarterly results initially sent shares plunging. “It’s clear we need to make some major changes,” John Flannery said. “Our results are unacceptable to say the least.” Flannery, who replaced Jeff Immelt over the summer, faced tough questions from analysts after GE reported lower third-quarter earnings and […]