General Electric Co Chief Executive Larry Culp said on Wednesday that the compan...
TARRYTOWN, N.Y. - General Electric Co Chief Executive Larry Culp said on Wednesday that the company will likely have weaker quarters for the rest of the year after a surprisingly good start in the first quarter.
GE’s results will balance out through 2019 and its profit and cash flow forecasts are unchanged, Culp said at his first annual meeting as the company’s CEO. GE faces several hundred million dollars in increased costs because of tariffs on imports from China, he said. Institutional Shareholder Services had recommended shareholders vote against top executives’ pay, citing concerns about directors’ discretion to set pay.“It’s still tough to say that out loud,” Culp said on Wednesday, referring to the $2 billion figure. “But that’s the reality.”
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