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GE acquires Lufkin Industries for $3.3bn

GE acquires Lufkin Industries for $3.3bn
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GE's Downfall and Recovery: What's Luck Got to Do With It?


General Electric (NYSE:GE) CEO Jeff Immelt s book
Hot Seat is naturally drawing attention to the company, and GE s future under current CEO Larry Culp. One of the key questions it raises is the role of luck in management. To be fair, Immelt has been putting much of the blame for GE s downfall on himself, but he s also acknowledging the unfortunate headwinds he suffered during his 2001-2017 tenure. Let s take a look at what happened, and more importantly, what it means for GE investors right now.
A troubled beginning
Immelt certainly had his unfair share of bad luck as CEO of GE. After inheriting a sprawling empire of businesses ranging from NBC, household appliances, and plastics to gas turbines, aircraft engines, and a huge finance arm, GE Capital, Immelt was immediately hit by the impact of the Sept. 11 terrorist attack on aviation. ....

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Lufkin Appoints Saeid Rahimian as CEO


Lufkin Appoints Saeid Rahimian as CEO
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MISSOURI CITY, Texas, Jan. 13, 2021 /PRNewswire/  Lufkin is pleased to announce the appointment of Saeid Rahimian as CEO effective January 4, 2021.
Mr. Rahimian is a proven leader with a demonstrated track record of success over thirty years in the oil and gas industry. In his most recent role as the CEO of Aereon, a global provider of vapor recovery systems, custom flares and low emission, engineered combustors, Mr. Rahimian led a successful merger of Aereon with Cimarron Energy. Prior to Aereon, Mr. Rahimian spent nearly four years as the CEO of Gardner Denver Energy Group, where he lead four divisions with 1,800 employees and manufacturing and service facilities on four continents. Under Mr. Rahimian s leadership, the business achieved exceptional growth and profitability and completed two highly-accretive strategic acquisitions. Mr. Rahimian began his career with ....

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