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Proxy Vote Update: General Electric Company (GE)

Below are the resources for and the results of our recent Proxy Vote on behalf of our clients:
Proxy Materials: rF Voting results:
  1. Vote for the election of of the following nominees:
    1. W Geoffrey Beattie – For
    2. John J Brennan – Against (Lack of oversight on approving/proposing compensation package).
    3. James I Cash Jr – Against (Lack of oversight on approving/proposing compensation package).
    4. Francisco D’Souza – For
    5. Marijin E Dekkers – Against (Lack of oversight on approving/proposing compensation package).
    6. Susan J Hockfield – For
    7. Jeffrey R Immelt – Against (Conflict of Interest).
    8. Andrea Jung – Against (Lack of oversight on approving/proposing compensation package).
    9. Robert W Lane – Against (Lack of oversight on approving/proposing compensation package).
    10. Rochelle B Lazarus – For
    11. James J Mulva – For
    12. James E Rohr – For
    13. Mary L Schapiro – For
    14. Robert J Swieringa – For
    15. James S Tisch – For
    16. Douglas A Warner III – Against (Lack of oversight on approving/proposing compensation package).
  2. Advisory approval of executive compensation:  Against (Awards are enormously excessive).
    1. Compensation was ~$36,000,000 to $10,000,000 for executive officers. Again, this is enormous overcompensation, which is an embarrassment to our country and corporate governance in general.  We voted against any board member that was on the compensation committee because this was almost equivalent to grand theft.
  3. Ratification of KPMG as independent auditor for 2015 – For
  4. Cumulative voting – For
  5. Written consent – For
  6. One director from ranks of retirees – Against
  7. Holy land principles – Against
  8. Limit equity vesting upon change in control – For

This article was written for information purposes only and its content should not be construed by any consumer and/or prospective client as rebel Financial’s solicitation to affect, or attempt to affect transactions in securities, or the rendering of personalized investment advice for compensation. No client or prospective client should assume that any such discussion serves as the receipt of, or a substitute for, personalized advice from rebel Financial, or from any other investment professional. See our disclosures page for more information.

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Picture of Phil Ratcliff

Phil Ratcliff

Phil Ratcliff, President of rebel Financial, is a senior financial advisor that holds an AIF®, CFP®, ChFC®, and CLU® certifications. He started his career at American Express Financial Advisors in 2003, then moved to AXA Advisors for 7 years before founding rebel Financial LLC in 2013.

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rebel Financial is a Registered Investment Advisor that provides retirement planning, estate planning, financial planning, and investment management services to individual and institutional clients. To get a more detailed description of the company, its management, and practices, view our (form ADV, Part2A) and Disclosures.
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