surprise announcement: GE It's on the verge of a staggering milestone a half-trillion dollars in market value wiped out since that all-time high 18 years ago, according to The Toronto Star. On Monday the company made the surprise announcement that it was replacing chief executive officer John Flannery, who has been unable to stem the slide in the company's shares after just more than a year in the job. Apple and Trump have gone on to greater things. General Electric Co. has announced it is replacing chief executive officer John Flannery, who has been unable to stem the slide in the company's shares after just more than a year in the job. While the stock surged Monday after the announcement of the change at the top, the shares and the company have a massive hole to dig out from. Richard Drew / AP The iconic American corporation is now worth just under 100 billion, its stock at around 11 at Friday's close, and investors are signalling they don't expect things to get better.
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