General Electric (GE) CEO Jeff Immelt may leave sooner than his 20-year contract, as the company rethinks the tenure of its GE CEO.
The thinking is for a 10- to 15-year tenure as head of the company.
Immelt, 58, has run the company for almost 13 years, and is expected to leave much sooner than the 20 years that were agreed upon when he took over.
MarketWatch reports that he currently has no plans to leave and would give GE ample notice of any upcoming departure.
… directors now realize that it is too taxing for any person to spend two decades managing the $258 billion company whose businesses include incubators, jet engines, light bulbs and loans in more than 170 countries.
GE stock is down 8% year to date.