The company's announcement about its plans for the future has been widely anticipated. "I think we can expect to see GE make some kind of significant statement about the future of the company by the end of the second quarter, as they said they would," Faber said on "Squawk on the Street."
Shares of GE are about to be removed from the Dow Jones industrial average, where they have been a fixture since 1907 and even before that, as an original component. The stock was down 1.6 percent in early trading on Thursday.
Faber said it might not be a full breakup "as some had anticipated." But it will be a "significant announcement around reorganization of the company, including potentially something being spun."