.The company lost two thirds of its market value in the last two years amid a series of operational and investment missteps..General Electric has reduced its stake in oil-services firm Baker Hughes and will sell nearly half of its healthcare unit, the company said.Culp made the power business one of his top priorities, reorganizing the division by separating gas-turbine business from units that make coal- and nuclear-fuelled power plants, power grids and other equipment.Since taking over as CEO last year, Culp has taken a string of steps, including slashing the company dividend to just a penny a share and selling assets at the 126-year-old, Boston-based conglomerate.

On Monday, the company said it would sell its biopharma business to Danaher Corp for USD 21.General Electric Co has too much debt and needs to reduce it  houghtfully and soon ? China Tankless Electric Water Heater Faucet Suppliers Chief Executive Officer Lawrence Culp said in a letter to shareholders on Tuesday.. ultimately a dividend level in line with our peers, ?Culp said.4 billion as the industrial conglomerate reduces its debt pile, which stood at USD 121 billion at the end of December. e intend to maintain a disciplined financial policy, targeting a sustainable credit rating in the single-A range . ?019 will be a year of change for Power in particular, ?Culp added."We have more options available to us down the line to generate cash to help bring down our leverage, including our remaining interests in Baker Hughes and Wabtec Corporation and continued flexibility for our go-forward Healthcare business," Culp wrote in the letter here