GE Aerospace (GE) just unveiled an update.
GE Aerospace has extended CEO H. Lawrence Culp, Jr.’s employment until the end of 2027 with an option for an additional year, reflecting confidence in his leadership since 2018. His new compensation package includes a $2 million annual salary, a potential annual bonus double his salary, a hefty annual equity award starting in 2025, and a one-time performance-based stock award tied to earnings growth. This agreement, designed to align with shareholder interests and long-term company performance, also outlines provisions for Culp’s potential transition to Executive Chairman and terms for termination scenarios.
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