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GE's Jeffrey Immelt Stepping Down03:34
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Jeffrey Immelt addresses a press conference in New Delhi on Sept. 21, 2015. (Sajjad Hussain/AFP/Getty Images)
Jeffrey Immelt addresses a press conference in New Delhi on Sept. 21, 2015. (Sajjad Hussain/AFP/Getty Images)
This article is more than 4 years old.

General Electric announced Monday that its longtime CEO and chairman is stepping down. Jeffrey Immelt will retire and be replaced by GE Healthcare president and chief executive John Flannery.

Here & Now's Jeremy Hobson speaks with CBS News' Jill Schlesinger (@jillonmoney), host of "Jill on Money" and the podcast "Better Off," about what the move means for GE.

This segment aired on June 12, 2017.

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