General Electric The company has agreed to extend the term of Larry Culp, the aerospace manufacturer’s CEO, through at least 2027, removing him from the field of potential successor candidates. Boeing The next CEO of Co.
Culp could stay at GE’s helm through 2028 if he and the board agree, the company said in a filing Monday. The extension comes after Culp orchestrated a multiyear turnaround of the former conglomerate, culminating in the April spinoff of its energy business. That left GE Aerospace, the world’s largest jet engine maker, as the remaining company. It spun off its health care division in 2023.
Culp’s current contract at GE was set to expire in August. Analysts and others had cited him as a candidate to succeed Boeing’s Dave Calhoun, who said he planned to step down by the end of the year. Culp, for his part, downplayed that possibility, saying he intended to stay at GE Aerospace.
GE shares have gained 56% this year through Monday’s close, well above the 15% gain in the S&P 500 index.
