GE Announces Board of Directors for Future Independent GE HealthCare; Confirms Target Spin-Off Timing of First Week of January 2023
GE (NYSE:GE) today announced the first Board of Directors for GE HealthCare, the planned independent company that will be created following its spin-off from GE. The company also announced that it is targeting a spin-off date in the first week of January 2023, subject to final approval from the GE Board of Directors and other customary conditions.
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GE HealthCare Board of Directors (Graphic: GE)
As previously announced, H. Lawrence Culp, Jr., Chairman and CEO, GE, and CEO, GE Aerospace, will serve as Non-Executive Chairman of GE HealthCare. Peter Arduini, CEO of GE HealthCare, will also serve as a Director. Today, GE also announced the names of eight additional directors who plan to join the GE HealthCare Board.
Culp said, "I am thrilled with the group we have assembled to serve on GE HealthCare's Board of Directors. These directors are highly experienced and energized by GE HealthCare's mission and opportunities ahead. They bring a diverse range of perspectives and backgrounds to support the company's ambitions, including deep industry knowledge in patient care and healthcare systems, capital allocation experience to support organic and inorganic growth, management and financial expertise, and digital innovation leadership."
Culp continued, "With this initial group of Directors, we have a highly qualified and capable Board that will enable GE HealthCare to hit the ground running. The team is building significant momentum and targeting a spin-off during the first week of January, and having our Board in place represents a critical milestone on this path."
Arduini said, "As we seek to lead the new era of precise, connected, and compassionate care, GE HealthCare will begin its life as an independent company with a best-in-class Board and team. The group we are assembling brings a strong understanding of the safety, quality, innovation, and trust that our customers expect from GE, as well as fresh thinking for our journey forward. We're excited to launch GE HealthCare in January as a standalone company leading precision health innovation."
In connection with the spin-off, GE intends to appoint the following directors to GE HealthCare's Board:
This document contains forward-looking statements - that is, statements related to future events that by their nature address matters that are, to different degrees, uncertain. For details on the uncertainties that may cause our actual future results to be materially different than those expressed in our forward-looking statements, see https://www.ge.com/investor-relations/important-forward-looking-statement-information, as well as our SEC filings. We do not undertake to update our forward-looking statements.
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