General Electric extends CEO Culp’s employment agreement

(Reuters) – General Electric Co 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)