General Electric extends CEO Culp's employment agreement
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FILE PHOTO: The General Electric Co. logo is seen on the company's corporate headquarters building in Boston, Massachusetts, U.S. July 23, 2019. Picture taken July 23, 2019. REUTERS/Alwyn Scott/File Photo
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(Reuters) - General Electric Co (NYSE: GE) said it has extended the employment agreement of Chief Executive Officer Lawrence Culp through August 2024.
The company's board also approved a one-time equity performance grant to Culp, it said in a filing dated August 18. (https://bit.ly/31cOPL8)
Culp, who was hired in 2018 to replace CEO John Flannery, has since focused on improving General Electric's free cash flow and cutting debt. (https://reut.rs/2YjMiwK)
(Reporting by Arunima Kumar in Bengaluru; Editing by Devika Syamnath)
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