GE's Board Needs More Fixing, Despite Adding Schapiro

Mary Schapiro, former-chairman of the U.S. Securities and Exchange Commission, speaks at the Securities Industry and Financial Markets Association annual meeting in New York Photograph by Peter Foley/Bloomberg

General Electric has nominated former Securities and Exchange Commission Chairman Mary Schapiro to its board—a terrific choice for a company dealing with complex regulations worldwide. The question is whether the right directors are stepping off. In its March 11 proxy filing, the company said Alan G. Lafley, Sam Nunn, and Roger Penske won’t stand for reelection at the April 24 annual meeting in New Orleans. That leaves GE with a 17-member board that’s better but could still be improved.

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