Daily News: March 12, 2013

GE Names Former SEC Chairman Schapiro to Board


GE announced that its Board has nominated Mary Schapiro, former chairman of the U.S. Securities and Exchange Commission (SEC), as a GE director. Schapiro will stand for election at GE’s annual meeting of shareowners on April 24, 2013.

“Mary Schapiro will bring valuable expertise to GE, particularly with her experience overseeing U.S. financial markets,” said GE chairman and CEO Jeff Immelt. “Her understanding of corporate governance and financial regulation will be of great benefit to GE and its shareowners. I am pleased that we have nominated Mary to our board.”

Schapiro served as chairman of the SEC from January 2009 through December 2012. Prior to becoming SEC chairman, Schapiro served as chief executive officer of the Financial Industry Regulatory Authority (FINRA) from 2007 through 2008. She joined FINRA in 1996, serving as president of the National Association of Securities Dealers (NASD) Regulation from 1996 to 2002 and as vice chairman from 2002 to 2006, when she was named chairman. Schapiro served as a commissioner of the SEC from December 1988 to October 1994, and left the SEC when appointed chairman of the CFTC, where she served until 1996.

Prior to her 2009 SEC appointment, Schapiro also served as a director and chair of the audit committee at Duke Energy, and as lead director and chair of the nominating and governance committee at Kraft Foods.