Summary
General Electric's board booted CEO John Flannery earlier this week.
The CEO is being replaced by Lawrence Culp Jr., former CEO of Danaher Corporation, an experienced industry executive.
The industrial company also took a whopping $23 billion charge in its power division.
An investment in General Electric yields 3.9 percent.
What is going to happen now?
General Electric's (NYSE:GE) board finally replaced John Flannery, the CEO tasked with leading the turnaround at the troubled industrial company, earlier this week. The appointment of Lawrence Culp Jr. as the company's new CEO has been a major positive catalyst for GE shares earlier this week, as investors had lost confidence in John Flannery. In addition, GE announced a major impairment charge related to its power business and essentially scrapped its 2018 earnings guidance. What is going to happen now?
