General Electric Company (NYSE:GE) announced the filing of its Form 10 registration statement with the U.S. Securities and Exchange Commission ('SEC') for the planned spin-off of GE Vernova. GE Chairman and CEO and GE Aerospace CEO H. Lawrence Culp, Jr., said, 'Today's filing underscores GE Vernova's important progress toward its spin-off as an independent, global leader driving electrification and decarbonization. Our financial position is strong to support forming GE Vernova and GE Aerospace as well-capitalized, investment-grade companies, and we're excited to launch them to the world in early April.' GE Vernova CEO Scott Strazik said, 'GE Vernova is a purpose-built company serving the electric power industry with a unique scope and scale of solutions to create a more sustainable world. Today's milestone demonstrates the significant progress our teams have made in preparing GE Vernova to launch as a standalone company and how we are poised to benefit from growing demand for energy transition products and services. Our momentum continues to build with this latest milestone as we approach our spin-off.'
GE Vernova is expected to spin off from GE in early April, subject to final approval from the GE Board of Directors and other customary conditions. GE Vernova will list on the New York Stock Exchange under the ticker symbol 'GEV.' In November 2023, GE announced the Board of Directors for GE Vernova, bringing together a strong mix of expertise, industry experience, and diverse perspectives to help GE Vernova lead the energy transition.