General Electric’s board of directors on Thursday formally approved the spin-off of power and wind division GE Vernova for 2 April with trading of its common stock in New York.
GE Vernova comprises three businesses: Electrification including grid and storage with $6.4bn in 2023 revenue, Power that encompasses gas, hydro, nuclear, and steam technologies ($17.4bn), and Wind both offshore and onshore turbines, and LM Wind Power, which designs and manufacturers rotor blades ($9.9bn).
