GE owners give CEO Larry Culp wrong kind of endorsement tombuerkle
General Electric said its shareholders approved all of management’s proposals at the company’s annual meeting on May 8. Chief Executive Larry Culp and his nine other directors were elected with the support of more than 90 percent of shareholders voting.
An annual say-on-pay proposal endorsing executive compensation was approved with the support of only 70.5 percent of shareholders, down from just over 90 percent last year. A shareholder proposal calling on the company to have an independent chair won the support of just over 28 percent of those voting, down from nearly 41 percent last year.
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