When Larry Culp became CEO of General Electric in October 2018, he was the first outsider to lead the company in its 126-year history. He inherited a crisis that looked terminal. GE’s stock had plummeted, falling 45% in 2017 and another 58% in 2018. The company’s debt load far exceeded its market capitalization, and its credit rating was sliding toward junk. The corporation that had been worth $594 billion in 2000, making it the most valuable company in the world, had become, by most Wall Street accounts, a slow-motion collapse.
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: harvardbusiness.org
