GE names ex-Linde chief executive as nonexecutive chairman of GE Vernova spinoff

General Electric Co.
GE,
+1.50%
on Tuesday named the board members of energy business GE Vernova and GE Aerospace ahead of a split of the two units in the second quarter of next year. General Electric will rename itself GE Aerospace, while GE Vernova will trade on the NYSE under the symbol “GEV.” Stephen Angel, former chief executive and current chairman of Linde PLC, will take up the post of nonexecutive chair of GE Vernova. GE Chief Executive H. Lawrence Culp will be chairman of GE Aerospace. Scott Strazik, who is chief executive of GE Vernova, said naming the board members marks “another important step” in the plan to spin off the business as an independent company. GE’s stock was not trading in the premarket on Tuesday. The stock is up by 76.7% in 2023, compared with a 14.9% gain by the S&P 500
SPX,
+1.91%.