GE Digital ( GE ) has unveiled plans to separate and rebrand its GE business to establish an independent internet of things firm. GE Digital said the new entity would have a proprietary equity structure and independent board of directors, with more details to follow in the first quarter . At the same time, GE is seeking a new CEO for the spin-off firm, following the departure of Bill Ruh , and will sell its majority stake in software business Service Max to Silver Lake .
General Electric (GE) has unveiled plans to separate and rebrand its GE Digital business to establish an independent internet of things firm. GE said the new entity would have a proprietary equity structure and independent board of directors, with more details to follow in Q1 2019. At the same time, GE is seeking a new CEO for the spin-off firm, following the departure of Bill Ruh, and will sell its majority stake in software business Service Max to Silver Lake.