The board of directors of General Electric (NYSE:GE) has nominated a former SEC chairman for a spot on the company's board. Mary Schapiro, who became the 29th chairman of the regulatory body when President Obama appointed her in January 2009, will stand for election to the nine-person board at the annual shareholder meeting on April 24.
Only having stepped down from heading the SEC in December, Schapiro brings high-level expertise in financial compliance that's hard to come by. Before leading the SEC, she served as CEO of the Financial Industry Regulatory Authority, and she's been appointed by four different U.S. presidents to various positions of oversight, beginning in 1988, when President Reagan named her SEC commissioner.
With financial solutions being a core part of GE's business, CEO Jeff Immelt praised Schapiro's extensive experience with financial markets as a valuable addition to the executive team.