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Updates from GE + In Conversation with Rahul Ghai & Steve Winoker | GE News

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About us Investors News FAQs Contact About us Investors News FAQs Contact About us Investors News FAQs Contact About us Investors News FAQs Contact performance Updates from GE + In Conversation with Rahul Ghai & Steve Winoker Steve Winoker September 27, 2023 It’s been an exciting few weeks for the GE team, with GE’s Lean Mindset event, multiple investor conferences, including an appearance by GE and GE Aerospace CFO Rahul Ghai at Morgan Stanley’s Laguna Conference, followed by on-the-ground investor relations meetings across the Asia-Pacific region. Throughout the month, we were encouraged by the strong engagement, interest in GE and thoughtful questions as we prepare for the launches of GE Aerospace and GE Vernova sometime in early 2024.

While at the Morgan Stanley Laguna Conference, I had the opportunity to sit down with Rahul to discuss his recent appointment as CFO of GE, in addition to his role as CFO of GE Aerospace. We covered his priorities as we look toward the separation, his experience prior to joining GE, and thoughts on the Laguna conference. Rahul notes that “the spotlight is brightly on us" as we approach separation, and that GE is trending to the high end of its third quarter 2023 guide. I hope you’ll take a few minutes to watch, or you can read the transcript here.

In addition, a number of investors have asked us about the situation with a third party, AOG Technics, falsifying documentation on specific parts, its impact on customers, as well as our operations and financials. Safety is our first priority. We quickly disclosed the issue to the appropriate regulators and are supporting our customers in determining whether any parts they acquired (directly or indirectly) from AOG are unapproved. We filed a lawsuit against AOG, and secured a court order requiring that the broker release documentation of their parts sales and the origin of those parts, impacting roughly 100 engines at the time of the suit. We are hopeful that this documentation will assist the industry in identifying unapproved parts sold by AOG. We remain united with the aviation community in working to keep unapproved parts out of the global supply chain. On the financial question, we do not expect this to have a material impact.

This week, GE Vernova CEO Scott Strazik spoke at Goldman Sachs Global Sustainability Conference, and he will join the Wolfe Clean Energy, Utilities & Midstream Conference later today. We hope those attending have the opportunity to hear from him.

Thank you for your continued interest in GE. We look forward to keeping you updated on the business.

Best,
Steve and team

 

This document and the video linked within it contain "forward-looking statements." For details on the uncertainties that may cause our actual future results to be materially different than those expressed in our forward-looking statements, see here.

 

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