Wall Street starts to contemplate General Electric after Jeff Immelt

After 15 years as CEO, Immelt shows no signs of slowing

Jeff Immelt gives no public signs he’s ready to end his 15-year tenure as chief executive of General Electric Co., but investors are increasingly preparing for the inevitable.

Mr. Immelt, who turned 61 this week, has steered GE through the financial crisis and divested the bulk of the company’s once-massive lending business. While the share price is little changed from when he took over in 2001, the conglomerate has refocused on its industrial businesses, shedding low-margin units like home appliances and striking a big oil-and-gas deal last fall.

“The last notable GE catalyst and elephant in the room is the