GE Delays 3Q Earnings to give new CEO time for Review

The hiring of new CEO Lawrence Culp earlier this month and his need for time to review the company’s sites and business situation has forced GE to delay its third-quarter earnings report by five days.

GE announced Friday it was going to release the quarterly earnings on Oct. 30 instead of Oct. 25. Culp was named the new CEO October 1 when GE dismissed John Flannery after only 13 months on the job.

The gas turbine manufacturing giant has fallen on hard times in recent years, much of it due to the company’s far-flung engagement in other sectors such as insurance and health care.

GE Power is struggling to fix some flaws in its HA-series turbines, among other problems.