by
Thomas Dworetzky, Contributing Reporter | October 03, 2018
Sources also told CNBC's David Faber that the real issue was “the lack of concrete decision-making made in a very short time frame.”
As Culp took over the helm at GE yesterday, the GE board also appointed Thomas W. Horton as lead director. He was chairman and CEO of American Airlines from 2011 to 2013, and chairman of American Airlines Group from 2013 to 2014.
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“GE remains a fundamentally strong company with great businesses and tremendous talent,”
said Culp in a statement, adding that he and leadership “remain committed to strengthening the balance sheet, including deleveraging.”
The new CEO earned praise from Horton, who stated that “Larry Culp has a proven track record in company transformation and delivering shareholder value. He is a strong leader with deep knowledge of industrials and technology, and an intense focus on execution, organization, and talent development. The board looks forward to working with Larry and his team to return GE to growth and long-term success. On behalf of the board, I thank John for his significant contributions and long service to GE.”
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Wayne Webster
Compnsation
October 05, 2018 09:10
Mr. Culp's earnings are remarkably impacted by his ability to raise the price of the stock. That will be his focus.
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