As we explored our options for Appliances, it became clear that the fastest, most efficient step we could take in completing the transformation of our Industrial portfolio would be to focus on a possible spin-off of the entire unit
Jeff Immelt, Chairman and CEO, GE

GE (NYSE:GE) will spin-off its entire Consumer & Industrial business unit, including Appliances, Lighting and Industrial, to existing GE shareholders. RTO Online reported in May that a spin-off was one possible outcome of GEs strategic review of its Appliances division (see story).

"As we explored our options for Appliances, it became clear that the fastest, most efficient step we could take in completing the transformation of our Industrial portfolio would be to focus on a possible spin-off of the entire unit," GE Chairman and CEO Jeff Immelt said. "This is consistent with the strategy we have been executing to transform the GE portfolio for long-term growth and makes sense for GE shareholders."

"While we will continue to consider all opportunities for Consumer & Industrial, focusing on a spin-off makes sense for these great businesses as well. They have integrated processes, distribution and backroom operations," Immelt said. "Consumer & Industrial would benefit by keeping a world-class leadership team intact, its employees together and would have the ability to control their own destiny. I am pleased that Jim Campbell and his team remain committed to this effort."