05:03 PM EDT, 07/01/2024 (MT Newswires) -- GE Aerospace (GE) said late on Monday that its board extended the employment agreement of Chairman and Chief Executive H. Lawrence Culp Jr.

The agreement has been extended through Dec. 31, 2027, or such later date as mutually agreed by the parties up to Dec. 31, 2028.

Culp's employment agreement was set to terminate on Aug. 17.

The terms of the agreement and Culp's performance award permit him to transition to the role of executive chair for the final six months of his term.

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