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 . The stock largely moved higher after J.P. Morgan analyst Stephen Tusa, a longtime GE bear, upgraded his rating to neutral from underweight. 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 .
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 .