- GE nominated top aviation and industrial executives and an accounting expert to its board on Monday.
- The struggling company seeks to restructure its business and restore investors’ confidence in one of the largest U.S. industrial conglomerates.
- GE said on Friday that it was facing potential legal action by the U.S. Department of Justice in connection with subprime mortgages and it is also restating its 2016 and 2017 results.
One of the new directors named on Monday was Leslie Seidman, a former JPMorgan Vice President and chairman of the Financial Accounting Standards Board nicknamed “Loophole Leslie” by opponents for her bank-friendly approach to regulation after the 2008 financial crash.
The other two were Thomas Horton, who oversaw the restructuring and merger of American Airlines with US Airways, and Lawrence Culp Jr., who as former CEO of Danaher transformed the company from a manufacturer into a science and technology firm.
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