General Electric (NYSE: GE) has unveiled the brand names and logos of the public companies it will establish as the Boston-based industrial conglomerate splits into three independent businesses focused on aviation, health care and energy sectors.
The company said Monday its health care business will operate under the name GE HealthCare and its aviation business as GE Aerospace.
GE Renewable Energy, Power, Energy Financial Services and Digital subsidiaries will merge into one company and operate under the name GE Vernova.
GE HealthCare will pursue a tax-free spinoff in early 2023 and will begin trading on the Nasdaq Global Select Market using the ticker symbol “GEHC.”
GE Vernova will transition into an independent public company through a tax-free spinoff in early 2024 with a focus on delivering sustainable energy.
After the two planned spinoffs, GE will become an aviation-focused company to be led by GE Chairman and CEO Lawrence Culp and with an installed base of 26,200 military aircraft and 39,400 commercial aircraft engines. GE Aerospace would offer long-term licenses to other companies and own the GE trademark.
“Today marks 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,” said Culp.
GE first announced the planned separation into three public companies in November 2021.