GE won’t try to claw back Jeff Immelt’s pay, ending probe into alleged misconduct

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GE won’t try to claw back Jeff Immelt’s pay, ending probe into alleged misconduct


General Electric Co.’s board won’t claw back compensation from former CEO Jeff Immelt and other executives over GE’s
GE,
+2.87%

accounting issues or Mr. Immelt’s use of a backup corporate jet, ending a three-year probe into allegations of misconduct at the conglomerate.

The investigation didn’t find evidence to support shareholders’ claims of fraud and abuse, and pursuing litigation against former leaders wasn’t in the company’s interest, according to the law firm that GE’s board hired to run the process.



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