The two most influential proxy advisory groups came out last week against General Electric Co.’s compensation packages for CEO Larry Culp and other top executives, taking particular umbrage with last year’s changes to Culp’s employment agreement.
Institutional Shareholder Services Inc. and Glass Lewis & Co. both advised GE shareholders to cast “nay” votes on the Boston-based company’s executive compensation at its annual meeting May 4. The pay-package vote is non-binding. READ MORE