Recently, Jeff Immelt who had held the position of General Electric's CEO for 16 years has announced that he will retire on December 31, 2017. Since taking office in 2001, Immelt led General Electric out of the financial crisis and realized the transition to the electronic age. But over the past 12 months, General Electric shares fell 6.3%, and since Immelt took over the cumulative loss of General Electric's shares has reached 30%. General Electric's share price rose 3.6% after the news of the change of leadership. According to the plan, Immelt's successor, John Flannery will take over General Electric officially on August 1, 2017. Some analysts believe that General Electric's new head has a rich financial background, and there might be divestiture of General Electric’s businesses.