div > div.group > p:first-child"> Jim Mulva, the former chairman and CEO of ConocoPhillips, and Geoff Beattie, the former CEO of the Woodbridge Company, will retire from GE's board at the company's annual meeting on May 8.Seven of the 10 GE directors being nominated this May are new to GE in the past two years. In the same time, 15 directors have retired from GE's board.
While GE has yet to nominate replacements for Mulva and Beattie, the company is still targeting a board size of 12. Additionally, GE is"asking shareowners to approve an amendment to our Certificate of Incorporation that would lower the minimum required number of directors on the Board from ten to seven," the filing said. This is ensures"that the company remains in compliance with its Certificate of Incorporation, particularly during times of transition."
Given GE’s performance over the period, isn’t this a win?
Why tenure board members ?
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