Jeffrey Immelt, CEO of Fairfield-based General Electric Co. (GE), saw his total compensation rise to $25.8 million last year from $21.6 million in 2011, according to the company’s annual report.
The 19 percent increase in Immelt’s total earnings came as GE outperformed the Standard & Poor’s 500 index in 2012, with the company’s stock rising more than 17 percent compared to a 13.4 percent increase to the S&P 500.
Last year, GE – the world’s largest producer of jet engines – saw its industrial segment earnings increase 10 percent to $15.5 billion, Immelt wrote in his annual letter to shareholders. Additionally, annual earnings reported by the company’s GE Capital unit increased 12 percent to $7.4 billion.
GE plans to return $18 billion to investors in 2013 through dividend and stock repurchases.
Immelt’s base salary was unchanged from the previous year at $3.3 million, and his bonus increased to $4.5 million from $4 million in 2011, according to documents filed March 11 with the U.S. Securities and Exchange Commission. His total compensation includes a $12.1 million long-term performance bonus.
