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.
But an executive compensation proposal passed with 70.5 percent of the vote and 29.5 percent against, GE said, which was a relatively low level of support for such measures. A shareholder proposal to split the CEO and chairman roles won about 27 percent of the votes. ISS had recommended a vote for the proposal, saying GE"would benefit from the most robust form of independent boardroom oversight."sentifi.com"It's still tough for me to say that out loud," Culp said on Wednesday, referring to the US$2 billion figure."But that is our reality.
In the past, such reviews were more high level and focused on financial results first and operations second, she said, noting she and Culp met with aviation on Monday, healthcare on Tuesday and plan to meet with the power business in about two weeks.
Source: News Formal (newsformal.com)
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