GE Aerospace: CEO Lawrence Culp's mandate extended
In a press release, the American aerospace group explains that it has extended Culp's mandate - which was due to expire next August - due to the 'extraordinary' nature of his leadership.
Under its umbrella, the GE conglomerate recently broke up into three entities: GE HealthCare (healthcare equipment), GE Vernova (energy equipment) and GE Aerospace (aerospace systems).
Beyond the demerger operation, Lawrence Culp has succeeded in reducing the group's debt by more than $100 billion since 2018, the company states.
Since his arrival at the head of the group in 2018, the share price has also risen by more than 140%.
Following this announcement, GE Aerospace shares were up 1.6% on Tuesday on the New York Stock Exchange at the start of trading.
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