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BRIEF-General Electric Co says in connection with his promotion to CEO, John Flannery's salary increased to $2 million
June 12, 2017 / 9:44 PM / 3 months ago

BRIEF-General Electric Co says in connection with his promotion to CEO, John Flannery's salary increased to $2 million

June 12 (Reuters) - General Electric Co:

* General Electric Co says in connection with his promotion to ceo, John Flannery’s salary increased to $2 million

* General Electric Co says MDCC of board set Flannery’s target annual bonus for 2017 as percentage of salary at 150 percent

* General Electric says MDCC will determine Flannery’s equity compensation at same time that it approves annual grant to executives across co for 2017

* General Electric-MDCC determined that Flannery’s long-term performance award for 2016-2018 will be paid out in shares of ge common stock instead of cash

* General Electric - on June 9, board amended by-laws to remove requirement that chairman shall be CEO of co

* General Electric - on June 9, board amended by-laws to also reassign the duties previously assigned to the president to the CEO Source text: (bit.ly/2rTukS0) Further company coverage:

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