This will be 'year of change' for GE Power, CEO says

This "will be a year of change" for GE Power, General Electric Co. Chairman and CEO H. Lawrence Culp Jr. wrote in his first letter to the company's shareholders.He said GE has "eliminated some headquarters layers" in its Power unit, which is based in Schenectady. But he added that "we also need to run Power better, improving how we manage our inventory and material management, product development and delivery, and billings and collections."