Bob Nardelli, who lost the succession battle to GE's former CEO, Jeff Immelt, said he is not working with activists on an asset sale to get revenge on General Electric (NYSE:GE).
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“I would do anything to help General Electric,” Nardelli said to FOX Business’ Maria Bartiromo on “Mornings with Maria. “I really don’t see myself as an activist going in there. You have to be invited in — I’m not going to push my way in.”
He is urging fast action by the company's current CEO, John Flannery, by selling assets.
“They’ve got over $20 billion of assets they have to dispose of,” he said. “Time is not a friend right now with General Electric.”
In the past 12 months GE shares have plunged from nearly $50 to approximately $14.