Governance : Our Company : GE
The primary role of GE's Board of Directors is to oversee how management serves the interests of shareowners and other stakeholders. To do this, GE's Directors have adopted corporate governance principles aimed at ensuring that the Board is independent and fully informed on the key risks and strategic issues facing GE. GE has met its goal to have two-thirds of its Board be independent under a strict definition of independence. Today, 16 of GE's 18 Directors are independent.
The GE Board held fifteen meetings in 2011. Each outside Board member is expected to visit at least two GE businesses without the involvement of corporate management in order to develop his or her own feel for the Company. Board members focus on the areas that are important to shareowners - strategy, risk management, leadership development and regulatory matters. In 2011, they received briefings on a variety of issues including capital allocation and business development, risk management, technology excellence, regulatory trends, social cost, capital market trends, service contract performance, political contributions and lobbying activities, and GE's branding, marketing and operating initiatives. At the end of the year, the Board and each of its committees conducted a thorough self-evaluation.
Our Board committees review, audit and oversee the performance and policies of all our businesses. Meet the committees that are responsible for ensuring quality, compliance and integrity at GE.
More than two-thirds of our directors are independent under New York Stock Exchange guidelines. This makes for a more autonomous — and effective — Board of Directors.
It is the Board's policy that the directors should attend our Annual Meeting of Shareowners absent exceptional circumstances. All of our director nominees for 2012 attended the 2012 Annual Meeting, other than Mr. Lane who was unable to attend due to illness.
All comments, concerns and complaints can be sent to the Board via phone, e-mail or post, and will be addressed by the Audit Committee or GE Ombudsperson’s Office.