Henry Lawrence "Larry" Culp, Jr. (born March 1963) is an American business executive. He is chairman of General Electric and GE Healthcare.[1][2] He is the first outsider to run GE in the company's 126-year history.[3]
Prior to joining GE, Culp worked at Pall Corporation and Danaher Corporation in Washington, D.C. He joined the Danaher Corporation in 1990 and served as CEO from 2001 through 2014. Culp joined the GE board of directors in April 2018.[1]
Culp joined Danaher in 1990 at Veeder-Root, becoming President in 1993. He was appointed a group executive and corporate officer in 1995, with responsibility for Danaher’s Environmental and Electronic Test and Measurement platforms while also being President of Fluke and Fluke Networks. He was named an Executive Vice President in 1999, Chief Operating Officer in 2001, and President as well as CEO in 2001. Previously, Culp was a senior lecturer at Harvard Business School, where he focused on leadership, strategy and general management in the MBA and executive education programs.[4]
Culp's pay package of up to $21 million a year for four years as chairman and CEO of General Electric has attracted attention, especially the element tied to any stock price increase, with about $47 million for a 50% rise and perhaps $300 million for a 150% increase.[6] According to Bloomberg LP, the high base pay "sends the wrong message".[7] In 2020, Culp was offered a contract-extension of two years by the board of General Electric that would last until August 2024.[8]
In April 2021, the Financial Times reported that Culp faced push back from two of the largest shareholder advisers on his pay package, which includes a bonus of $47 million.[9] In June 2022, Culp extended his role as CEO of GE Aviation, in addition to GE.[2]
Personal life
Culp is married, with three children,[10] and lives in the Boston area.[1]
References
^ abcdLogan, Tim; Jon, Chesto (2018-10-01). "Who is H. Lawrence Culp, GE's new CEO?". The Boston Globe. Retrieved 2018-10-02.
^ abSingh, Rajesh Kumar; Hepher, Tim; Ganapavaram, Abhijith (2022-06-27). "GE CEO Culp expands role to head aviation unit". Reuters. Retrieved 2022-06-27.
^Chin, Kimberly (2018-10-01). "A Look at Larry Culp's Career". The Wall Street Journal. Retrieved 2018-10-02.
^"H. Lawrence Culp, Jr. '85". www.washcoll.edu. Retrieved 20 March 2019.
^Sheetz, Michael (5 October 2018). "New GE CEO Larry Culp signs stock-heavy contract worth up to $300 million if shares soar". CNBC. Retrieved 22 October 2019.
^Sutherland, Brooke (5 October 2018). "GE CEO's Payday Sends the Wrong Message". Bloomberg LP. Retrieved 22 October 2019.
^Dumcius, Gintautas (20 August 2020). "GE board extends Culp's contract by two years". Boston Business Journal. Retrieved 14 December 2022.
^"Subscribe to a slice of the FT | Financial Times". www.ft.com. Retrieved 2021-04-16.
^Edgecliffe-Johnson, Andrew (1 October 2018). "Larry Culp looks for a repeat revolution at GE". Financial Times. Retrieved 20 March 2019.
lawrence, culp, henry, lawrence, larry, culp, born, march, 1963, american, business, executive, chairman, general, electric, healthcare, first, outsider, company, year, history, larry, culpbornhenry, lawrence, culp, march, 1963, washington, educationwashington. Henry Lawrence Larry Culp Jr born March 1963 is an American business executive He is chairman of General Electric and GE Healthcare 1 2 He is the first outsider to run GE in the company s 126 year history 3 Larry CulpBornHenry Lawrence Culp Jr March 1963 age 60 Washington D C U S EducationWashington College BA Harvard University MBA TitleChairman and CEO of General ElectricTermOctober 2018 presentPredecessorJohn L FlanneryChildren3Prior to joining GE Culp worked at Pall Corporation and Danaher Corporation in Washington D C He joined the Danaher Corporation in 1990 and served as CEO from 2001 through 2014 Culp joined the GE board of directors in April 2018 1 Contents 1 Early life and education 2 Career 3 Personal life 4 References 5 External linksEarly life and education EditCulp was born and raised in the Washington D C area the son of a small welding company owner He earned a bachelor s degree from Washington College and an MBA from Harvard Business School 1 Career EditCulp joined Danaher in 1990 at Veeder Root becoming President in 1993 He was appointed a group executive and corporate officer in 1995 with responsibility for Danaher s Environmental and Electronic Test and Measurement platforms while also being President of Fluke and Fluke Networks He was named an Executive Vice President in 1999 Chief Operating Officer in 2001 and President as well as CEO in 2001 Previously Culp was a senior lecturer at Harvard Business School where he focused on leadership strategy and general management in the MBA and executive education programs 4 Culp is also a senior advisor at Bain Capital Private Equity and a non executive director of T Rowe Price 5 Culp s pay package of up to 21 million a year for four years as chairman and CEO of General Electric has attracted attention especially the element tied to any stock price increase with about 47 million for a 50 rise and perhaps 300 million for a 150 increase 6 According to Bloomberg LP the high base pay sends the wrong message 7 In 2020 Culp was offered a contract extension of two years by the board of General Electric that would last until August 2024 8 In April 2021 the Financial Times reported that Culp faced push back from two of the largest shareholder advisers on his pay package which includes a bonus of 47 million 9 In June 2022 Culp extended his role as CEO of GE Aviation in addition to GE 2 Personal life EditCulp is married with three children 10 and lives in the Boston area 1 References Edit a b c d Logan Tim Jon Chesto 2018 10 01 Who is H Lawrence Culp GE s new CEO The Boston Globe Retrieved 2018 10 02 a b Singh Rajesh Kumar Hepher Tim Ganapavaram Abhijith 2022 06 27 GE CEO Culp expands role to head aviation unit Reuters Retrieved 2022 06 27 Chin Kimberly 2018 10 01 A Look at Larry Culp s Career The Wall Street Journal Retrieved 2018 10 02 Lawrence Culp www ge com 2018 10 01 Retrieved 2019 10 19 H Lawrence Culp Jr 85 www washcoll edu Retrieved 20 March 2019 Sheetz Michael 5 October 2018 New GE CEO Larry Culp signs stock heavy contract worth up to 300 million if shares soar CNBC Retrieved 22 October 2019 Sutherland Brooke 5 October 2018 GE CEO s Payday Sends the Wrong Message Bloomberg LP Retrieved 22 October 2019 Dumcius Gintautas 20 August 2020 GE board extends Culp s contract by two years Boston Business Journal Retrieved 14 December 2022 Subscribe to a slice of the FT Financial Times www ft com Retrieved 2021 04 16 Edgecliffe Johnson Andrew 1 October 2018 Larry Culp looks for a repeat revolution at GE Financial Times Retrieved 20 March 2019 External links EditGeneral Electric announcementBusiness positionsPreceded byJohn L Flannery Chairman and Chief Executive Officer of General Electric2018 present Incumbent This article about a chief executive from the United States is a stub You can help Wikipedia by expanding it vte Retrieved from https en wikipedia org w index php title H Lawrence Culp Jr amp oldid 1144073047, wikipedia, wiki, book, books, library,
