Today we released our 2019 Annual Report. Below is an excerpt from my letter to shareholders. I urge you to read it.
Dear fellow shareholder,
First, a sincere thank you for sharing your ideas and counsel over the last year. When I began as CEO, it was critical for me to listen, not just to replicate what’s worked for me elsewhere. Your feedback is playing an important role in our efforts to make GE a stronger, more valuable company.
As I laid out in my last letter, I want this document to serve as a reference point for how we run the company so that we can all keep score together. Looking back at 2019, I hope you see a GE that diligently addressed its most pressing issues with grit and reset its foundation to drive long-term profitable growth. I am proud of the progress our team made together, especially in how we operate. While the impact of this work is only starting to become visible to our investors, I’m confident that the “game of inches” we’re playing will become more evident through our results over time.
From the outset, we focused 2019 on two strategic priorities: 1) improve our financial position and 2) strengthen our businesses. We’re doing what we said we would do on both fronts, and we’re on a positive trajectory for 2020.