With GE’s stock around $70 a share these days—meaning it’s down some 30 percent since Culp’s coup—it’s clear that Larry Culp is the only winner, so far, in all of the turmoil that has been created at GE since he took over on October 1, 2018. He’s been paid roughly $21 million a year since then—aside from his modest give-ups in 2020 and 2022—plus he’ll get his 1.1625 million additional GE shares as long as he is still around Boston at the end of 2024, or 2025, as is currently the intention. As for GE shareholders, they continue to suffer.
