Immelt received $8.11M for final months at GE
Jeffrey Immelt received $8.11 million in compensation for his final months running General Electric even as it stumbled through one of the most tumultuous stretches in its 126-year history. The former chief executive officer and chairman received $2.86 million in salary during 2017, GE said in a regulatory filing Monday. Immelt, 62, who stepped down as the top executive in August and from the board two months later, also got $1.87 million in perks, mostly relocation benefits. The remaining $3.37 million reflected a change in the value of his pension and deferred compensation. While GE had started to show signs of stress early last year, the company fell hard in the months after Immelt’s exit. GE was the worst performing stock in the Dow Jones industrial average in 2017, plunging 45 percent and losing $125 billion in market value.