Summary
Perhaps the best move made at General Electric over the past year was the restructuring of the Board of Directors, reducing the size of the Board and removing old members.
There seems to be a direct tie between one of the new members of the Board and the new Chairman and CEO and this sets the stage for needed changes.
General Electric, with new leadership, must get away from its association with the old corporate conglomerate and find its way into the world of the "new" Modern Corporation.
Everyone seems to be surprised that General Electric, Co. (GE) made a change in its leader over the weekend. Now, we must take note of this change and attempt to determine the meaning of the change for the future of the company.
My first thought is that this change would never have happened under the old format for the Board of Directors.
A part of the new GE is that the Board of Directors was reduced from 18 members to just 12 members and many of the oldest serving directors were removed.
