The Wall Street Journal: GE to name its power business GE Vernova after split off
GE Vernova will be the name of General Electric Co.’s power business when it splits off from the company in 2024.
The new name, GE said, is a mashup of the Spanish word “verde” for green and “verdant” plus “nova” derived from the Latin “novus,” or “new.”
which is breaking up into three public companies, is largely sticking with the iconic name and logo it has used for more than a century, however. The other two companies will be called GE Aerospace and GE HealthCare. The healthcare business is expected to split off in early 2023, and GE said the shares will trade on the Nasdaq Stock Market under the ticker “GEHC.” The aviation business will be the surviving company with Chief Executive Larry Culp
The company said it was open to dropping the GE name altogether but after surveying roughly 2,200 customers and talking to employees around the world, as part of the name-change process, ditching the moniker wasn’t an option.
“We have a great global brand,” said Linda Boff, GE’s chief marketing officer. “It’s valued by our customers, it opens doors around the world” and that gives the company a competitive edge, she added.
An expanded version of this report appears at WSJ.com.
Also popular at WSJ.com:
Elon Musk’s inner circle rocked by fight over his $230 billion fortune.