© mucella1 Business | June 20, 2017

GE Lighting up for sale

GE formally began "discussions with buyers around a proposed sale" of GE Lighting.
Bill Lacey, President and CEO, GE Lighting, has written an internal email sent to GE Lighting employees. It later appeared in full on News-outlet Cleveland Business has confirmed that the email is genuine.

"Today GE is formally beginning discussions with buyers around a proposed sale of our GE Lighting business. We are doing terrific things, leading the lighting industry and driving growth in the markets where we operate. We have an opportunity to accelerate this work as part of a potential new organization under new ownership where lighting is a priority and focus", the email - dated June 8, 2017 - reads.

He also points out that a sale might also open up new opportunities: "If we look at our former colleagues at Appliances, as an example, you will see teams thriving under new ownership that shares their same mission. Change breeds opportunity." (The unit was sold by GE to China-based Haier Group in 2016 for USD 5.4 billion.)

"I want to be clear that I view this as an exciting time for our business and our customers", said Lacey.

The decision seems to be in its early stages though, with several other strategic options also to be considered. This could, for example, include considering different buyers for different parts of the business.


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July 18 2018 5:55 pm V10.0.0-2