As General Electric (GE) Co. morphs its business units, including Medical Systems, with pending acquisitions, the Fairfield, Conn.-based conglomerate is unveiling changes in its structure, effective Jan. 1, 2004.
GE Chief Executive Jeffrey R. Immelt said no layoffs will result from the changes. He added that GE considers its business either "growth engines" or "cash generators."
GE's Healthcare segment will contain both GE Medical Systems (GEMS) and Amersham plc. GE has proposed the purchase of Amersham for $9.5 billion in a stock transaction. Amershan Chief Executive William Castell will continue to head the London-based Amersham, while Joseph M. Hogan remains as GEMS' president and CEO.
GE also announced changes in its energy, transportation, NBC-Universal, advanced materials, and consumer and industrial segments.