November 13, 2017 / 2:09 PM / 4 months ago

General Electric to focus to power, healthcare and aviation, cuts outlook

(Reuters) - General Electric Co said on Monday it will narrow its focus to power, healthcare and aviation business, and set an earnings target between $1.00 and $1.07 per share for next year, a drop from its earlier forecast, the company said on Monday.

The General Electric logo is pictured on working helmets during a visit at the General Electric offshore wind turbine plant in Montoir-de-Bretagne, near Saint-Nazaire, western France, November 21, 2016. REUTERS/Stephane Mahe/Files

GE also said it will cut its board size to 12 from 18 members and add three new directors in 2018, at an annual investor event.

The company said it is focusing on businesses where it sees the best growth potential and where it has good technology, scale and a large base of installed customers, and where it can use its digital software to enhance performance.

Reporting by Alwyn Scott; Editing by Bill Rigby

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