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And don’t miss Brooke Sutherland on bonus reform at GE: “GE’s executives aren’t going hungry, of course. Even without the bonus, Flannery will receive $9 million in total compensation for 2017. That’s 157 times what a median employee at the company earned -- excluding employees retained from acquisitions and countries that make up less than 5 percent of the workforce. And while it’s a lower payout than it might have been otherwise, the $8.1 million Immelt received for 2017 is still going to sting. Many of GE’s current problems can be traced back to his mismanagement of the company, and yet he hasn’t taken any public responsibility, leaving the dirty work for Flannery.
“The (still) big numbers will grab the headlines, but Flannery deserves credit for following through on his pledge to hold executives more accountable and revamp GE’s compensation structure.”
This column does not necessarily reflect the opinion of Bloomberg LP and its owners.
Max Nisen is a Bloomberg Gadfly columnist covering biotech, pharma and health care. He previously wrote about management and corporate strategy for Quartz and Business Insider.
To contact the author of this story: Max Nisen in New York at firstname.lastname@example.org.
To contact the editor responsible for this story: Mark Gongloff at email@example.com.
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