Henry Lawrence "Larry" Culp, Jr. (born March 1963) is an American business executive. He has been chairman and CEO of General Electric since October 2018. He is the first outsider to run GE in the company's 126-year history.
Henry Lawrence Culp Jr.
March 1963 (age 59)
Washington, D.C., U.S.
|Education||Washington College (BA)|
Harvard University (MBA)
|Title||Chairman and CEO of General Electric|
|Term||October 2018 – present|
|Predecessor||John L. Flannery|
Prior to joining GE, Culp worked at Pall Corporation and Danaher Corporation in Washington, D.C. He joined the Danaher Corporation in 1990 and served as CEO from 2001 through 2014. Culp joined the GE board of directors in April 2018.
Culp joined Danaher in 1990 at Veeder-Root, becoming president in 1993. He was appointed a group executive and corporate officer in 1995, with responsibility for Danaher’s Environmental and Electronic Test and Measurement platforms while also being president of Fluke and Fluke Networks. He was named an executive vice president in 1999, chief operating officer in 2001, and president and CEO in 2001. Previously, Culp was a senior lecturer at Harvard Business School, where he focused on leadership, strategy and general management in the MBA and executive education programs.
Culp's pay package of up to $21 million a year for four years as chairman and CEO of General Electric has attracted attention, especially the element tied to any stock price increase, with about $47 million for a 50% rise and perhaps $300 million for a 150% increase. According to Bloomberg LP, the high base pay "sends the wrong message". In April 2021, the Financial Times reported that Culp faced push back from two of the largest shareholder advisers on his pay package, which includes a bonus of $47 million.