GE: activist investor representative elected to board.
(CercleFinance.com) - GE said on Monday that its board of directors has elected Ed Garden from activist fund Trian to its board, with immediate effect.
In a statement, the chief investment officer and founding partner of Trian Fund Management said he is, like other shareholders, disappointed by the recent performance of the GE stock, down 23% year-to-date.
"But I continue to believe that GE represents an attractive long-term investment opportunity with significant upside. We will remain focused on enhancing long-term value for GE shareholders," he added.
GE said that it has maintained an "active and constructive dialogue" with Trian since the fund became a shareowner in 2015.
GE also announced on Monday that Jamie Miller, CEO of GE Transportation, had been named chief financial officer of GE, replacing Jeffrey Bornstein who will leave the company at the end of the year.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
In a statement, the chief investment officer and founding partner of Trian Fund Management said he is, like other shareholders, disappointed by the recent performance of the GE stock, down 23% year-to-date.
"But I continue to believe that GE represents an attractive long-term investment opportunity with significant upside. We will remain focused on enhancing long-term value for GE shareholders," he added.
GE said that it has maintained an "active and constructive dialogue" with Trian since the fund became a shareowner in 2015.
GE also announced on Monday that Jamie Miller, CEO of GE Transportation, had been named chief financial officer of GE, replacing Jeffrey Bornstein who will leave the company at the end of the year.
Copyright (c) 2017 CercleFinance.com. All rights reserved.