H. Lawrence Culp assumed the helm of General Electric on Monday in a surprise move meant to stem a two-year decline that has humbled the once-mighty conglomerate and roiled investors. The ouster of John Flannery gave GE its third chief executive in about 14 months. GE’s other bombshell was that it planned to write down effectively up to $23 billion in value from its troubled power business, the prime catalyst of its nosedive in stock market valuation.
