It would seem to me that the last failed 16 years of Immelt reign that the BOD would have learned that this company can not afford to have the CEO and Chairman of the Board be one in the same. What other company this size does this relationship exist? This fosters an environment where proper goverance is questionable at best and personally believe was a factor that led to the current dismal state of the company. This failure to separate the two brings to light again the competence of the BOD. That fact should be cause for you to insist on change at the BOD level by speaking up and if not before at least vote all the tenured board out at the next annual meeting. In order for recovery change needs to start at the top for all those responsible for disasterous decisions leading up to thousands losing their jobs!
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Nah, I'm just someone trying to answer the OP's question: "What other company this size does this relationship exist?" The answer, whether you like it or not, is that most S&P 100 companies have this structure, and the proportion has been increasing.
I specifically said, "I agree that this governance model is not desirable", so please don't accuse me of supporting it. I was relaying factual information in response to the OP's question.
Must be someone from Corporate in the last reply trying to justify the action... some things never change... expect more job cuts for the failure of executive leadership!
This article cites a study finding that, in 2015, a whopping 78% of S&P 100 companies combined the CEO and board chairman roles -- up from 70% in 2012. For S&P 500 companies not among the largest 100, 48% combined the roles, and that percentage held steady from 2012-2015.
https://www.bna.com/merger-ceochair-roles-n57982069563/
I agree that this governance model is not desirable, but GE appears to be part of a strong majority of S&P 100 companies who combine the roles.
Putting everything else aside, dont you think that those are two very big jobs for 1 person to handle?
I think the context of the comment was with regard to Mr. Flannery now becoming CEO and Chairman... the BOD could have done and still could do something about that!
No sense complaining about it now. He's made his millions and gone and probably doesn't care what you think.
Agree... for a company that preaches integrity how could you not see this as a conflict of interest.