Abstract
The Management Development and Compensation Committee is also composed entirely of independent directors and held eight meetings in 2010. The objective of the meetings were to establish, review and approve CEO compensation and to review and approve other senior executive compensation; to monitor our management resources, structure and succession planning, development and selection process as well as the performance of key executives; to review incentive compensation arrangements to assure that incentive pay does not encourage unnecessary risk taking; and to review and discuss, at least annually, the relationship between risk management policies and practices, corporate strategy and senior executive compensation. It also oversees the GE 2007 Long-Term Incentive Plan and the Incentive Compensation Plan and any other compensation and equity-based plans.
It's a process of optimizing resources and time in each levels of the company in order to work the plan efficiently. The organizational structure is a dynamic system of: beliefs, philosophies, ethics, habits, experience, norms … that define the priorities and values of a company.
