reportedly may announce new corporate-governance and compensation policies Thursday, in order to strengthen its board and increase director independence.
GE is expected to appoint a presiding director, who will lead several meetings a year for the board without management present,
The Wall Street Journal
reported. Also, GE will aim to have two-thirds of its board be nonemployees who are independent of the company, the report said.
Some of the proposed changes were mentioned by GE's Chairman and Chief Executive Jeffrey Immelt Monday at an event for the Economic Club of New York, the report said. Immelt said the rash of corporate scandals has compromised people's trust in CEOs.
He added that all outside directors appointed to the board in the future will be independent, and that all members of the audit, compensation and governance committees will be independent and won't receive fees from the company other than director compensation, the