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General Electric extends CEO Culp's employment agreement

General Electric extends CEO Culp's employment agreement

FILE PHOTO: The General Electric Co. logo is seen on the company's corporate headquarters building in Boston, Massachusetts, U.S. July 23, 2019. Picture taken July 23, 2019. REUTERS/Alwyn Scott/File Photo

REUTERS: General Electric Co said it has extended the employment agreement of Chief Executive Officer Lawrence Culp through August 2024.

The company's board also approved a one-time equity performance grant to Culp, it said in a filing dated Aug 18.

Culp, who was hired in 2018 to replace CEO John Flannery, has since focused on improving General Electric's free cash flow and cutting debt.

Source: Reuters

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