General Electric extends CEO Culp’s employment agreement

General Electric Co (GE.N) said it has extended the employment agreement of Chief Executive Officer Lawrence Culp through August 2024.

The company’s board also approved a one-time equity performance grant to Culp, it said in a filing dated August 18.

Culp, who was hired in 2018 to replace CEO John Flannery, has since focused on improving General Electric’s free cash flow and cutting debt.