Mr. Immelt, the CEO of GE, is Focusing on Running General Electric Healthcare (NYSE:GE) as a ‘startup’

Denver, CO, 07/15/2013 (Avauncer.com) – Shares of General Electric Company (NYSE:GE) fell 0.75% to close at $23.76 in the last trading session, close to the higher end of their 52-week price range of $19.43 to $24.45.

In this backdrop, the CEO of the company, Jeff Immelt, called on for more innovation at the company and the country in general. This comes in the wake of the downturn in US economy. He said the country needs more risk capital to help startups that can take up research and development. This shall be possible only with the support of Mr. Immelt, as an executive who has helped reshape the fortunes of the once ailing company by focusing on its more traditional operations.

The CEO, through his hour long address before the UW regents, revealed his plan of running GE Healthcare in the future. Immelt claims that he would like to run the company more like a startup, with lesser layers, simpler accountability and a fairer and more transparent decision-making. He intends to capitalize on the fast running capability of a startup company, however not giving up the efficiencies of scale the company is currently enjoying. This has made speculations of a further restructuring GE Healthcare might witness, by focusing only on its core business areas.

Immelt has been the CEO since 2001. Last year, the company posted a net income of $13.6 billion. In the past, it sold its non-industrial assets such as NBC Universal and concentrated on its conventional operations at making complex industrial equipment and providing services to companies. The current announcement of imitating a startup has sent further speculations in force that the company is eyeing on another restructuring as done in previous year.

As Mr. immelt began his address to the regents, two protesters interrupted and created chaos and were later removed by the police for disorderly conduct.