Jeff Immelt’s leadership at GE had disastrous results for investors. He says all of his retirement was in GE stock, but the fact that he was paid $200 million probably eased the pain. In that context, take a look at this exchange:
Do you feel like there’s a fundamental misalignment between compensation in this economy, when the outcomes for the people in factories and executives are just worlds and worlds apart?
I’m a little bit of a bad messenger, because our stock didn’t work. I worked 24 hours a day, seven days a week. And I was going to do that whether you paid me $5 million or $10 million. But I do think there’s a misalignment. I do think that that’s one of the reasons why business isn’t as trusted as it should be.Jeff Immelt Oversaw the Downfall of G.E. Now He’d Like You to Read His Book. – The New York Times