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Benzinga
Benzinga
Business
Rachit Vats

GE Chief Larry Culp Agrees To $10M Pay Cut This Year, Keeps Job Until 2024 After Shareholder Concerns

GE Larry Culp General Electric General Electric Co NYSE

General Electric Co (NYSE: GE) said on Thursday CEO Larry Culp has agreed to lower his annual compensation by $10 million and retained his contract until 2024 in response to shareholder concerns last year.

What Happened: The industrial conglomerate’s board in August 2020 had extended Culp’s contract to at least Aug. 2024 and awarded him a special stock grant.

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