Summary
This 8-K filing by General Electric (GE) on December 10, 2018, primarily announces a change in the composition of its Board of Directors. Director John J. Brennan has retired from the Board after six years of service. To fill the vacancy, the Board has elected Paula Rosput Reynolds as a new director, effective December 7, 2018. Ms. Reynolds brings experience as the Chief Executive Officer of PreferWest, LLC, a business advisory firm. The company has confirmed her independence according to NYSE listing standards and GE's own guidelines. She will be eligible for the standard compensation and benefits provided to independent directors. Investors should note that Ms. Reynolds has not yet been assigned to any Board committees.
Key Highlights
- 1John J. Brennan retired from the Board of Directors after six years of service, effective December 7, 2018.
- 2Paula Rosput Reynolds was elected as a new director to fill the vacancy created by Mr. Brennan's retirement.
- 3Ms. Reynolds is the CEO of PreferWest, LLC, a private business advisory firm.
- 4The Board has determined Ms. Reynolds to be an independent director based on NYSE standards and GE's guidelines.
- 5Ms. Reynolds will participate in the compensation and benefit program for independent directors.
- 6Ms. Reynolds has not yet been appointed to any Board committees.