Im­melt re­ceived $8.11M for fi­nal months at GE

The Palm Beach Post - - BUSINESS -

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.

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