Larry Culp will be a hero on Wall Street if he can revitalize General Electric's lifeless share price. The new GE boss will also be about $300 million richer.
Culp secured a handsome pay package when he agreed on Monday to become the first outsider CEO in GE's 126-year history. He faces enormous challenges given GE's debt-riddled balance sheet, shrinking cash flow and slumping power division.
The four-year agreement, detailed in filings made public late Thursday, calls for Culp to receive an...