Big Money: General Electric boss secures $47 mn bonus

Washington (AFP) – Two years after taking the helm at a slumping General Electric, Larry Culp has secured a huge reward: a bonus of around $47 million and the potential for much more. The mammoth payoff follows thousands of layoffs at the industrial conglomerate amid the coronavirus pandemic. Culp took over as chief executive in October 2018 and was paid almost $25 million in 2019, but he could reap as much as $230 million if GE meets additional targets, according to securities filings reviewed by AFP. The ex-CEO of Danaher, Culp has been credited with stabilizing GE’s finances through a serie…

Read More

HEDGE accordingly