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