Here’s what major Wall Street analysts think of General Electric’s sudden CEO change

Luke Sharrett | Bloomberg | Getty Images

A production assembly mechanic prepares to install a bracket on a CFM56-7 jet engine at General Electric Co.’s GE Aviation factory in Cincinnati, Ohio, June 25, 2014.

Wall Street is stunned after General Electric’s board of directors replaced John Flannery as chief executive with former Danaher CEO Lawrence Culp on Monday.

Flannery, who took the reins at GE in August 2017, was initially brought in to help turn around the struggling industrial conglomerate after a 16-year tenure by Jeff Immelt.

Though Wall Street first applauded Flannery’s move to embark on a deep dive into the company’s businesses and finances at the start of his term, the board eventually grew unsatisfied with the pace of his execution.

Culp is expected to continue the spin-off of GE’s health-care segment following a similar strategy in its railroad business.

General Electric’s shares, once a longtime favorite for an attractive dividend, have lost nearly half of their value over the past year despite management’s efforts.

The stock, which S&P Dow Jones Indices removed from the Dow Jones Industrial Average in June, rallied more then 9 percent Monday following news of Culp’s ascent.

Analysts across the Street issued their own assessments of the move Monday morning. Here are a few of their thoughts: