Mary Schapiro is starting to get a taste of opportunities in the private sector after stepping down as chairwoman of the Securities and Exchange Commission in December.
General Electric announced Monday that it had nominated Ms. Schapiro to serve as one of its directors. She will stand for election at the company’s coming annual meeting on April 24.
The G.E. board position will certainly earn her more than she did in government service. G.E. paid its directors about $250,000 in 2011; at the S.E.C., her annual salary was around $165,000. Presumably, there will be other board positions and job offers, although Ms. Schapiro has not hinted at her future career aspirations.
Before joining the S.E.C., Ms. Schapiro had served on other corporate boards, including those of Duke Energy and Kraft Foods. She had also been chief executive of the Financial Industry Regulatory Authority, or Finra, and had held other positions the organization and the National Association of Securities Dealers.
€œMary Schapiro will bring valuable expertise to G.E., particularly with her experience overseeing U.S. financial markets,†Jeff Immelt, chairman and chief executive of G.E., said in a statement. “Her understanding of corporate governance and financial regulation will be of great benefit to G.E. and its shareowners.â€
Excluding new nominees, G.E. currently has 19 board members, 17 of whom are not employees of the company.
