US conglomerate General Electric (GE) did not award bonuses in 2017 to CEO John Flannery, along with other executives. Just one company executive, David Joyce, the CEO for GE Aviation, received a bonus, valued at $1.4m, for the year. This was the first time in the firm’s history that such bonuses were not granted. Despite this, the $9m Flannery was paid for his first year in post was still 157 times higher than that of GE’s median employee. GE shares have fallen -1.68% over the past year.
US conglomerate General Electric (GE) did not award bonuses in 2017 to CEO John Flannery, along with other executives. Just one company executive, David Joyce, the CEO for GE Aviation, received a bonus, valued at $1.4m, for the year. This was the first time in the firm’s history that such bonuses were not granted. Despite this, the $9m Flannery was paid for his first year in post was still 157 times higher than that of GE’s median employee. GE shares have fallen 49% over the past year.