General Electric CEO Larry Culp said Tuesday that management will move as quickly as it can to split up into three companies but it will focus on doing it right.
The industrial giant announced earlier in the day that it would break up into three businesses focused on aviation, health care and energy. The news sent shares up about 6% in morning trading.
“We know looking at spins elsewhere that the focus and the accountability always increase,” Culp said on CNBC’s “Squawk on the Street.” “We think we have an opportunity here as well to have sharper capital allocation and greater strategic flexibility.”
The aviation unit will keep the GE name after spinning off the health-care unit in early…