Reuters – GE shareholders rejected CEO Culp’s $230 million pay in rare rebuke
May 5, 2021
General Electric Co shareholders rejected top executives’ compensation packages, including a payout of as much as $230 million to CEO Larry Culp, at the industrial conglomerate’s annual shareholder meeting on Tuesday.
At least four other S&P 500 companies who have disclosed shareholder vote tallies with regulators have been defeated over executive pay so far this year through the end of April; International Business Machines Corp., Starbucks Corp., Walgreens Boots Alliance, and TransDigm Group, according to compensation consultant Farient Advisors LLC, which looked at companies that have reported this year and last. Only one company, Qualcomm, had its executive pay rejected by shareholders at this point in 2020, according to Farient in the Reuters article “GE shareholders reject CEO Culp’s $230 million pay in rare rebuke”
About Farient Advisors
Farient Advisors LLC is an independent premier executive compensation, performance, and corporate governance consultancy. Farient provides a full array of services, linking business strategy to compensation through a tailored, analytically rigorous, and collaborative approach. Farient has locations in Los Angeles, New York, Louisville, and Dallas and works with clients globally through its partnership in the Global Governance and Executive Compensation Group (GECN). Farient is a certified diverse company and is recognized by the Women’s Business Enterprise National Council.