8-KLeadership ChangesExhibits & Filings

GENERAL ELECTRIC CO 8-K Report, Executive Changes (Dec 18, 2006)

Filed December 18, 2006For Securities:GE

Summary

This 8-K filing by General Electric Company (GE) on December 18, 2006, primarily announces a significant change to its Board of Directors. The company has elected Dr. Susan Hockfield, President and Professor of Neuroscience at MIT, to its Board, effective December 15, 2006. This appointment is noteworthy as Dr. Hockfield has been deemed an independent director by the Board, meeting both NYSE listing standards and GE's internal independence guidelines. Dr. Hockfield's addition to the Board brings external expertise and perspectives, which is generally viewed positively by investors as it can enhance corporate governance and strategic oversight. Her appointment to the Nominating and Corporate Governance Committee and the Public Responsibilities Committee indicates her direct involvement in key areas of board responsibility. The filing also incorporates by reference a press release detailing this election, providing further context for investors.

Key Highlights

  • 1General Electric Company (GE) elected Dr. Susan Hockfield to its Board of Directors on December 15, 2006.
  • 2Dr. Hockfield is the President and Professor of Neuroscience at the Massachusetts Institute of Technology (MIT).
  • 3The Board has determined that Dr. Hockfield qualifies as an independent director.
  • 4Dr. Hockfield meets the New York Stock Exchange (NYSE) listing standards for independence.
  • 5She also meets GE's internal independence guidelines as outlined in its Governance Principles.
  • 6Dr. Hockfield has been appointed to the Nominating and Corporate Governance Committee.
  • 7She has also been appointed to the Public Responsibilities Committee.

Frequently Asked Questions

Dr. Susan Hockfield is the President and Professor of Neuroscience at MIT. Her appointment to GE's Board of Directors is significant because it brings a high-profile academic leader with a strong background in science and research to the company's oversight. Her independence is also a key factor, suggesting a commitment to robust corporate governance.

Dr. Hockfield has been appointed to two key committees of the Board: the Nominating and Corporate Governance Committee and the Public Responsibilities Committee.

Yes, the Board of Directors has determined that Dr. Hockfield is an independent director, satisfying both the New York Stock Exchange listing standards and General Electric's own independence guidelines.

The primary purpose of this 8-K filing is to formally report the election of Dr. Susan Hockfield to the General Electric Company's Board of Directors and her committee assignments, as required by SEC regulations when there are significant changes in a company's board composition.