Henry Lawrence "Larry" Culp, Jr. (born March 1963) is an American business executive. He is chairman of

General Electric General Electric Company (GE) is an American multinational conglomerate founded in 1892, and incorporated in New York state and headquartered in Boston. The company operated in sectors including healthcare, aviation, power, renewable en ...

and

GE Healthcare GE HealthCare is a subsidiary of American multinational conglomerate General Electric incorporated in New York and headquartered in Chicago, Illinois. As of 2017, it is a manufacturer and distributor of diagnostic imaging agents and radiopharma ...

. He is the first outsider to run GE in the company's 126-year history. Prior to joining GE, Culp worked at Pall Corporation and

Danaher Corporation Danaher Corporation is an American globally diversified conglomerate with its headquarters in Washington, D.C. The company designs, manufactures, and markets professional, medical, industrial, and commercial products and services. The company' ...

in Washington, D.C. He joined the Danaher Corporation in 1990 and served as CEO from 2001 through 2014. Culp joined the GE board of directors in April 2018.

Early life and education

Culp was born and raised in the

Washington, D.C. ) , image_skyline = , image_caption = Clockwise from top left: the Washington Monument and Lincoln Memorial on the National Mall, United States Capitol, Logan Circle, Jefferson Memorial, White House, Adams Morgan, ...

area, the son of a small welding company owner. He earned a bachelor's degree from

Washington College Washington College is a private liberal arts college in Chestertown, Maryland. Maryland granted Washington College its charter in 1782. George Washington supported the founding of the college by consenting to have the "College at Chester" name ...

, and an MBA from Harvard Business School.

Career

Culp joined Danaher in 1990 at Veeder-Root, becoming President in 1993. He was appointed a group executive and corporate officer in 1995, with responsibility for Danaher’s Environmental and Electronic Test and Measurement platforms while also being President of Fluke and Fluke Networks. He was named an Executive Vice President in 1999, Chief Operating Officer in 2001, and President as well as CEO in 2001. Previously, Culp was a senior lecturer at Harvard Business School, where he focused on leadership, strategy and general management in the MBA and executive education programs. Culp is also a senior advisor at Bain Capital Private Equity and a non-executive director of T. Rowe Price. Culp's pay package of up to $21 million a year for four years as chairman and CEO of

has attracted attention, especially the element tied to any stock price increase, with about $47 million for a 50% rise and perhaps $300 million for a 150% increase. According to Bloomberg LP, the high base pay "sends the wrong message". In 2020, Culp was offered a contract-extension of two years by the board of

that would last until August 2024. In April 2021, the

Financial Times The ''Financial Times'' (''FT'') is a British daily newspaper printed in broadsheet and published digitally that focuses on business and economic current affairs. Based in London, England, the paper is owned by a Japanese holding company, Ni ...

reported that Culp faced push back from two of the largest shareholder advisers on his pay package, which includes a bonus of $47 million. In June 2022, Culp extended his role as CEO of

GE Aviation GE Aviation, a subsidiary of General Electric, is headquartered in Evendale, Ohio, outside Cincinnati. GE Aviation is among the top aircraft engine suppliers, and offers engines for the majority of commercial aircraft. GE Aviation is part of t ...

, in addition to GE.

Personal life

Culp is married, with three children, and lives in the Boston area.

References

External links

General Electric announcement
1964 births Living people American chief executives of Fortune 500 companies General Electric people Washington College alumni Harvard Business School alumni General Electric chief executive officers Danaher Corporation people {{US-CEO-stub