Business & Tech

More changes at the top at General Electric, this time on its board

Richard Drew/Associated Press/File

Boston-based General Electric Co., which parted ways with three top executives last week, made a shakeup on its board Monday.

Robert W. Lane, a member of the board for 12 years, announced his retirement. In a separate announcement, GE said that Ed Garden of Trian Fund Management would replace Lane, who will become a director emeritus.

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Garden, Trian’s chief investment officer, is one of the firm’s founding partners, along with investor Nelson Peltz.

He serves on The Bank of New York Mellon Corp. board, and he formerly held board seats with Wendy’s and Family Dollar Stores.

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“We . . . believe that, based on his track record as a director at other companies, Ed will be able to make significant contributions to GE,” said Jack Brennan, the lead independent director on GE’s board.

Added General Electric CEO John Flannery: “Our focus is on delivering for customers, world class operational excellence, integrity, accountability and driving results that will increase shareholder value. I look forward to working with Ed Garden and the entire Board.”

Trian had placed pressure on former GE chief excecutive CEO Jeff Immelt to boost the conglomerate’s profits. Earlier this year, GE agreed to reduce spending by $1 billion in 2017, and another $1 billion in 2018.

Material from Bloomberg News was used in this report. Jon Chesto of the Globe staff contributed to this report.
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