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    The GE Board began detailed CEO succession planning in 2011, initially drafting leadership criteria for the next CEO and moving potential candidates into preparatory roles. Over the following six years, the Board intensified its focus on succession, refining criteria, increasing time spent on planning, and ensuring targeted development for all candidates. They ultimately selected the next CEO from highly qualified internal candidates in June 2017 after extensive evaluation and preparation of final candidates.

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    GE 6years Succession Plan

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    The GE Board began detailed CEO succession planning in 2011, initially drafting leadership criteria for the next CEO and moving potential candidates into preparatory roles. Over the following six years, the Board intensified its focus on succession, refining criteria, increasing time spent on planning, and ensuring targeted development for all candidates. They ultimately selected the next CEO from highly qualified internal candidates in June 2017 after extensive evaluation and preparation of final candidates.

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    10 views1 page

    GE 6years Succession Plan

    Uploaded by

    봉봉
    The GE Board began detailed CEO succession planning in 2011, initially drafting leadership criteria for the next CEO and moving potential candidates into preparatory roles. Over the following six years, the Board intensified its focus on succession, refining criteria, increasing time spent on planning, and ensuring targeted development for all candidates. They ultimately selected the next CEO from highly qualified internal candidates in June 2017 after extensive evaluation and preparation of final candidates.

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    GE Board’s CEO Succession Planning Process

    DETAILED SUCCESSION
    PLANNING INITIATED
    2011
    • Management Development
    and Compensation Committee
    (MDCC) dedicates portion of
    every meeting to CEO succession
    • Candidates moved into CEO
    SUCCESSOR CRITERIA REFINED
    preparatory roles
    2012
    • Initial draft of leadership criteria for
    the next CEO is completed • Leadership criteria for next CEO is refined
    • Including the previously identified internal
    candidates, the CEO succession list
    expands to encompass other key leaders

    SUCCESSION TIMING IDENTIFIED


    2013
    • Board plans for summer
    2017 as timing for CEO
    transition
    • CEO candidates appointed to larger BOARD INCREASES TIME SPENT
    leadership roles ON CEO SUCCESSION
    2014
    • MDCC dedicates additional time to
    CEO succession, including pre-Board
    sessions
    BOARD CONSIDERS EXTERNAL • Successor criteria continues to
    CANDIDATES; INTENSIFIES FOCUS be refined in light of the business
    ON INTERNAL ONES environment and strategic needs of
    the company
    2015
    • Board visits, providing candidates with
    increased exposure
    • MDCC and Jeff Immelt ensure targeted
    development and growth plans for all CEO
    candidates
    • External candidates reviewed, including
    detailed profiles on the top 10 BOARD AND IMMELT
    • Board refines list to focus on internal WORK CLOSELY WITH
    candidates only; Following review of FINAL CANDIDATES
    external candidates, Board determines 2016
    internal candidates had best attributes to
    lead company • Board visits continue. MDCC work
    • Board reaffirms summer 2017 as intensifies. Final candidates confirmed
    timing for CEO transition, with Chairman • Jeff Immelt intensifies in-depth
    transition to be completed coaching work with final candidates
    by January 2018 • Final candidates have increased
    exposure to investors and media
    • Board finalizes succession roadmap
    • 360 degree leadership assessment on
    all candidates
    FINAL TRANSITION PLANNING • Detailed roadmap developed for
    AND SUCCESSION summer 2017 CEO decision and
    transition
    2017
    • Board interviews individual
    candidates - early May
    • Individual candidate questions by
    Board to understand their vision for
    the company
    • Final review and evaluation of
    candidates against strategic needs
    of the company
    • Board voted on CEO on June 9, 2017

    6
    YEARS

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