Jeff Immelt Waives Bonus


GE chairman Jeff Immelt waived his right to a $12 million bonus this year, in light of the recession and the company’s less-than-stellar performance. “My compensation is never going to be an embarrassment to GE,” Mr. Immelt said this month. “It’s going to be responsible; it’s going to be appropriate; it’s going to be transparent; and it’s going to reflect the financial performance of the company.” That’s nice, but also so 2008. Keep up with the times, Jeff. We like bonuses now. [FT]