Trian takes a seat at General Electric

BOSTON — General Electric is naming Trian's Ed Garden to its board, potentially signaling a shift toward becoming the leaner, industrial player that the investment fund has been pushing for years.

The company this month has already turned over its top management with the early departure of longtime CEO Jeff Immelt and CFO Jeffrey Bornstein. Two vice chairs also have announced they would retire.

Shares of General Electric Co., based in Boston, are down 23 percent this year, and Trian Fund Management is pushing heavily for the company to restructure and revive growth. It became one of GE's biggest investors two years ago with a $2.5 billion investment.

Garden is the chief investment officer and a founding partner at Trian Fund Management. He replaces GE director Robert Lane, who is retiring.

Similar News

Asian shares climb, tracking gains in US stocks, oil prices

Aug 12, 2016

Asian shares rose Friday, tracking the rally in U.S. stocks that was driven by strong gains by energy companies and retailers

Source: Boy was decapitated on waterslide at Kansas park

Aug 11, 2016

The 10-year-old boy killed during a ride on the world's tallest waterslide was decapitated, a person familiar with the investigation said Wednesday

Kohl's 2Q profit tops expectations as it lowers expenses

Aug 11, 2016

Kohl's 2Q profit beat analysts' expectations as the department store operator reduced expenses and managed its inventory well