- General Electric Co (NYSE:GE) Board authorized up to $3 billion of common share repurchases.
- GE expects to consider share repurchases as one of the potential capital allocation alternatives on an ongoing basis, along with organic and inorganic investments, as it plans to establish three global, investment-grade companies.
- GE also disclosed that it had elected Stephen F. Angel, Isabella D. Goren, effective March 7, 2022. The company also named Tomislav Mihaljevic to Board, effective April 11, 2022.
- James Tisch will not stand for reelection at the company’s 2022 Annual Meeting of Shareholders.
- Reuters reported that General Electric had suspended operations in Russia, except for providing essential medical equipment and supporting existing power services in the region.
- Price Action: GE shares are trading higher by 3.93% at $91.61 on the last check Wednesday.
