GE CEO Immelt doesn’t take bonus in 2009 after tough year

GE’s Immelt takes no 2009 bonus

FAIRFIELD, Conn. — General Electric Co. says its CEO Jeffrey Immelt didn’t receive a bonus at his request in 2009, a year in which the industrial and financial conglomerate’s profits dropped 37 percent as it struggled to recover from the recession and financial crisis.

Overall, The Associated Press found that Immelt made roughly $5.6 million last year, down about 2 percent from 2008.

The AP’s executive pay calculation, based on a regulatory filing, aims to isolate the value the company’s board placed on the CEO’s total compensation package. The figure includes salary, bonus, incentives, perks and the estimated value of stock options and awards.