* GE ADVANCES DIGITAL LEADERSHIP WITH LAUNCH OF $1.2 BILLION INDUSTRIAL IOT SOFTWARE COMPANY* SELLING MAJORITY STAKE IN SERVICEMAX
* COMPANY IS INTENDED TO BE A GE WHOLLY-OWNED, INDEPENDENTLY RUN BUSINESS WITH A NEW BRAND AND IDENTITY
* NEW COMPANY WILL HAVE OWN EQUITY STRUCTURE, AND ITS OWN BOARD OF DIRECTORS
* GE DIGITAL CEO, BILL RUH, HAS DECIDED TO DEPART GE TO PURSUE OTHER OPPORTUNITIES.
* COMPANY INTENDS TO CONDUCT AN INTERNAL AND EXTERNAL SEARCH TO IDENTIFY CEO FOR GE DIGITAL FOR NEW INDEPENDENT CO
* NEW INDUSTRIAL IOT SOFTWARE CO WILL START WITH $1.2 BILLION IN ANNUAL SOFTWARE REVENUE AND AN EXISTING GLOBAL INDUSTRIAL CUSTOMER BASE