GE chief’s pay cut is a drop in the golden bucket

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GE chief’s pay cut is a drop in the golden bucket
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GE chief’s pay cut is a drop in the golden bucket - johnsfoley -

General Electric said Chief Executive Larry Culp would be eligible for a $5 million stock bonus in 2022, a $10 million reduction on the amount agreed in his employment package.

A majority of shareholders rejected GE's executive pay plan at its 2021 annual meeting, in what was a non-binding advisory vote. Culp was awarded $22.7 million for his work in 2021, including a $2.5 million salary, a $4.2 million cash bonus and stock awards of $15 million. GE delivered a total return to shareholders of 9.7% in 2021, including reinvested dividends. The S&P 500 Index had a total return of 28.7% over the same period.General Electric Co. Chief Executive Officer Larry Culp mingles with shareholders at the company’s annual meeting in Tarrytown, New York, U.S., May 8, 2019.

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