Fairfield, Conn., July 20, 2012-- (NYSE: GE) -- GE announced today that it will reorganize its Energy business into three standalone businesses effective in the fourth quarter of 2012. The Energy headquarters organizational layer will be phased out by the end of 2012. This change will speed decision making, reduce layers and decrease cost.
GE Energy Infrastructure includes approximately 100,000 employees and will have revenues of approximately $50 billion in 2012. The three new businesses will report directly to GE Chairman and CEO Jeff Immelt: