GE to end more than 100-year run on Dow; Walgreens added

General Electric will be dropped from the Dow Jones industrial average next week, ending the industrial conglomerate's more than 100-year run in the 30-company blue chip index.

S&P Dow Jones Indices said Tuesday that GE will be removed from index before the open of trading next Tuesday. Its slot will go to drugstore chain Walgreens Boots Alliance.

Boston-based GE was an original member of the Dow Jones industrials dating back to 1896. It had been a continuous member of the Dow since 1907.

GE has been struggling in recent years, shrinking dramatically since it became entangled in the financial crisis a decade ago.

The company is under investigation related to a $15 billion hit it took to cover miscalculations at an insurance unit.

The company released the following statement:

"We are focused on executing against the plan we've laid out to improve GE's performance. Today's announcement does nothing to change those commitments or our focus in creating a stronger, simpler GE."

Associated Press