BOSTON — After less than two years and a precipitous decline at General Electric, John Flannery has been ousted as chairman and CEO at the century-old company.

Flannery took over for longtime CEO Jeff Immelt in June 2017 with the company trying to re-establish its industrial roots, albeit a high-tech version of itself.

However, as Flannery has restructured the multinational conglomerate, its value has dipped below $100 billion and shares are down more than 35 percent this year, following a 45 percent decline in 2017.

The company was booted from the Dow Jones Industrial Average this summer and last month, shares tumbled to a nine-year low after revealing that its marquee gas turbine was flawed forcing the shutdown of two power plants.