Last year, Rice was GE’s fifth highest-paid executive, behind former CEOs Jeff Immelt and John Flannery, former Chief Financial Officer Jeff Bornstein and former Vice Chair Beth Comstock. He earned $7.9 million in 2017, according to GE's most recent proxy filing. GE has not released his new compensation.
8 replies (most recent on top)
Rice already has already proven he is ineffective. Why would Culp hire this guy back? Are we, the employees, supposed to be impressed with his previous performance at GE? He IS one of the major reasons GE is in the financial condition it is in.
With Rice back, GE will keep doing what it has been doing and expect a different outcome. Sounds like the definition of insanity.
John will expat back to Asia and serve as lead director after negotiating with a Chinese or Asian company for 49.9% ownership of Gas Power...
The real question no one has yet proposed is who will win the battle of the offices in Atlanta? Will Russell have to move or will John get a new office?
The market sure didn't respond in a positive way to this news. Culp is batting 1000 since becoming CEO. And WTH is Jokes still around for? Seems like Larry has already lost his sense of "urgency".
Turn around? This move by LC, putting a proven loser back in command, confirms there will be no turn around, just a controlled descent into terrain. Abandon your investments in GE or abandon all hope.
Turn around? He’s back to cut, cut, cut just like he did after the 2000 bubble...
His 1 year is not up until 3/2019
and how much more will he be getting to come back from retirement?