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 early 2019 . More details will be announced in the first quarter, it said. At the same time , GE is seeking a new CEO for the spin - off firm , following the departure of Bill Gates , and will sell its majority stake in its 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 early 2019 . At the same time , GE is seeking a new CEO for the spin - off firm , following the departure of Bill Gates , and will sell its majority stake in its business Service Max to Silver Lake .