GE is firing half its board as a new CEO cleans house

GE is firing half its board as a new CEO cleans house

GE is firing half its board as a new CEO cleans house

In June, General Electric’s board of directors ousted longtime CEO Jeff Immelt, replacing him with John Flannery.

Now, it looks like Flannery may do the same to half the company’s board.

Flannery, a 30-year company insider who is also GE’s chairman, plans on eliminating nine of the board’s 18 members, the company announced last week at a presentation to investors (pdf, page 5). He will add three new members, for a total of 12 directors, in an effort to introduce new perspectives while making the board less unwieldy.

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