General Electric Co. shareholders on Wednesday soundly rejected a proposal to require that GE’s board chairman be independent from the company, according to an initial tally of proxy votes.
A shareholder had put forward the proposal, arguing that the chair should focus on building up the board’s oversight capabilities, while the CEO should focus on the day-to-day responsibilities of running the company. At GE (NYSE: GE), both roles are held by Larry Culp.
The measure garnered only 27 percent…
Boston Biz Journal https://www.bizjournals.com/boston/news/2019/05/08/ge-investors-reject-call-to-separate-ceo-chair.html?ana=RSS&s=article_search