The Wall Street Journal is reporting today that GE may be pursuing a deal to sell its consumer lighting business, a product line that has defined the company since it was founded 125 years ago. The story cites unnamed sources “familiar with the matter” and goes on to say that the commercial lighting business rolled into GE’s Current is not part of the discussion. GE has been under pressure to improve profitability and continue its pursuit of a “simpler” and more coherent corporate structure focused on the industrial market in hopes of boosting the corporation’s stock price. CEO Jeff Immelt said two weeks ago after discussions with activist investors that GE will cut costs by $2 billion by 2018 and tie executive bonuses to operating profits to improve investor perceptions of the company.
WSJ (subscription): GE Weighs Sale of Consumer-Lighting Business