March 22, 2017 / 1:17 PM / 5 months ago

BRIEF-GE sets industrial unit 2017 operating profit target of $17.2 bln

March 22 (Reuters) - General Electric Co:

* General Electric Co - to set an industrial operating profit target of $17.2 billion for 2017

* General Electric Co - company is also targeting reduced industrial structural costs of $22.9 billion for 2018

* General Electric Co - increased its targeted reduction in industrial structural costs from a total of $24.9 billion in 2016 to $23.9 billion for 2017

* General Electric Co - based on discussions with Trian Fund Management, set an industrial operating profit target of $17.2 billion for 2017

* General Electric Co - company's board of directors modified performance framework for members of company's executive management team

* General Electric Co - if neither of 2017 industrial operating profit target & industrial cost targets for achieved, bonuses will be decreased by 20%

* General Electric Co - modified performance framework for executive management team so that 2017 bonuses will be increased or decreased based on achievement of targets

* General Electric Co - for 2018, will review performance framework with goal to "further align incentives around most critical financial metrics" Source text for Eikon: Further company coverage:

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