Board of GE Unaware of CEO’s Other Plane

Board of GE Unaware of CEO’s Other Plane

Board of GE Unaware of CEOs Other Plane

On Sunday, The Wall Street Journal reported that the board members of General Electric Co., were unaware of the fact that the company had a spare business jet that routinely flew for its former CEO.

Per the report, the board members were also unaware that the maker of aircraft engines, locomotives, power plants and industrial equipment had received a complaint about the jet several years ago.

The Wall Street Journal reported on October 18 that former Chairman and CEO Jeff Immelt had an extra aircraft follow his corporate jet on some overseas trips during much of his 16 years in the role. GE executives first informed the board about the practice after the report, the publication said.

GE told its board members that the company had ruled out the practice of using the jet in mid-2014 and would continue to use the backup plane only in limited situations, such as going to risky locations, the Journal reported.

Immelt stepped down as CEO on August 1 and planned to continue as chairman through December 31.

However, John Flannery was named chairman on October 2. Flannery has grounded GE’s corporate aircraft fleet to cut costs and initiated a new policy under which executives will fly on commercial or charter flights.

Last week, Immelt told the Journal that he was unaware of the backup jet’s use. “This is not a practice I would have allowed,” he said in an emailed statement to the publication.

Representatives for GE did not immediately comment.

Megha Shah
Megha Shah
A dreamer, traveler, aspiring entrepreneur and a bookworm beyond repair, Megha Shah is extremely fond of writing and has been doing so since she was a child. Apart from being a part-time writer, Megha is currently in college, pursuing B. Com. (Hons). Megha is an ardent follower of ‘Hardship, Hustle and Heart’ and firmly believes in the power of hard work and destiny!

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