General Electric Co. Chief Executive Officer Jeffrey Immelt, two weeks after turning down $11.7 million in bonus pay, took responsibility for eroded investor trust and said he will work to restore faith in GE.
“Our company’s reputation was tarnished because we weren’t the ‘safe and reliable’ growth company that is our aspiration,” Immelt, 53, said in his yearly letter to shareholders dated Feb. 6 and released Tuesday with the annual report. “I accept responsibility for this. But, I think the environment presents an opportunity of a lifetime.”
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