Nov 12, 2018

GE CEO sees "plenty of opportunities" for more asset sales

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Photo: Tim Brakemeier/Picture Alliance via Getty Images

General Electric CEO Larry Culp, who's been on the job for six weeks, said in an interview with CNBC on Monday that the company plans to raise cash by selling more assets.

Why it matters: You can expect the shrinking conglomerate to shrink even more. GE needs to pay down its huge debt pile, and Culp said selling the "transportation business, and the coming exit of the Baker Hughes oil field services business" could free up cash to do that, per CNBC. Shares of GE fell below $8 for the first time in almost a decade.

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