In a statement, General Electric Co said, it has extended the employment agreement of its Chief Executive Officer Lawrence Culp up to August 31, 2024.

In a regulatory filing dated August 18, GE said, its board had also approved a one-time equity performance grant to Culp.

Hired in 2018 to replace former CEO John Flannery, Culp has focused on improving the company’s free cash flow as well as cutting its debt profile.

Categories: Creativity, Entrepreneurship, HR & Organization, Strategy

Tags: 2024, agreement, August 31, cash flow, CEO, Chief Executive Officer, cut, debt, employment, equity, extended, free cash flow, GE, General Electric Co, grant, improve, Lawrence Culp, reduce, regulatory filing