GE CEO’s $232 Million Pay Deal Scorned by Glass Lewis, ISS
Bloomberg 2 hrs ago Ryan Beene
(Bloomberg) General Electric Co. is nearing a tussle at its annual meeting next month after two top shareholder advisory firms recommended a vote against Chief Executive Officer Larry Culp’s revised pay package, which lowered the bar for him to eventually collect as much as $232 million.
Glass Lewis said it was “uncomfortable” with the plan that maintained Culp’s maximum potential payout “in exchange for reduced shareholder value creation.” Its recommendation for the non-binding vote echoed the concerns of another proxy adviser, Institutional Shareholder Services, which also urged opposition to the pay plans.
AerCap to buy GE s aircraft leasing unit in US$30 billion deal Toggle share menu
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AerCap to buy GE s aircraft leasing unit in US$30 billion deal
FILE PHOTO: Aengus Kelly, CEO of AerCap, speaks during a panel discussion at the 2015 International Air Transport Association (IATA) Annual General Meeting (AGM) and World Air Transport Summit in Miami Beach, Florida, June 8, 2015. REUTERS/Joe Skipper/File Photo 3 related media assets (image or videos) available. Click to see the gallery.
10 Mar 2021 07:45PM (Updated:
11 Mar 2021 02:30AM) Share this content
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REUTERS: The world s two largest aircraft leasing companies are combining to create a new financing giant after Ireland s AerCap finalised a deal worth more than US$30 billion to buy the leasing business of General Electric.
The transaction, which simplifies GE and focuses it on its industrial core power, renewable energy, aviation, and health care – is the latest in a series of divestitures Chief Executive Officer Larry Culp has undertaken
The world's two largest aircraft leasing companies are combining to create a new financing giant after Ireland's AerCap finalised a deal worth more than $30 billion to buy the leasing unit of General Electric.
GE Sinks as $30 Billion Sale of Jet Lessor Fails to Impress
Bloomberg 3/10/2021 Ryan Beene and Julie Johnsson
(Bloomberg) General Electric Co. sank as investors reacted coolly to a much-anticipated $30 billion deal to sell its jet-leasing business to rival AerCap Holdings NV.
The deal creates an aircraft-finance giant to be partly owned by GE and streamlines the manufacturer’s business model, but the announcement wasn’t accompanied by an upward revision in the company’s financial outlook that some on Wall Street had hoped to see.
“Expectations were that this would be a catalyst in terms of upside guidance,” said Nick Heymann, an analyst at William Blair, noting that GE under Culp has tended to raise guidance only after posting better-than-expected results.