Sébastien Bazin
GENERAL ELECTRICAbout Sébastien Bazin
Independent director at GE Aerospace since 2016; age 63; Chairman & CEO of AccorHotels since 2013. He serves on GE’s Compensation and Governance committees, bringing public-company CEO experience, operations, finance/capital allocation, and global expertise. Education: Sorbonne University, MA (Economics) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Colony Capital (Europe) | CEO | 1997–2013 | Built investing/regulatory experience across Europe |
| Immobilière Hôtelière | Group Managing Director, CEO & GM | 1992–1997 | Led hotel real estate operations |
| PaineWebber (U.S.) | Vice President, M&A | Began career in 1985; VP M&A prior to 1992 | Transaction execution and capital markets experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| AccorHotels (EPA:AC) | Chairman & CEO | Since 2013 | Current public company board; executive role |
| Gustave Roussy Foundation | Vice Chairman, Supervisory Board | Ongoing | Cancer research funding oversight |
| Safar Ventures | Chairman | Ongoing | Investment oversight |
| Riyadh School of Tourism & Hospitality | Director | Ongoing | Education/governance role |
Board Governance
- Independence: Independent; all director nominees except the CEO are independent; committee members meet heightened independence standards .
- Committee assignments: Compensation (member); Governance & Public Affairs (member). 2024 committee meeting cadence: Audit (10), Governance (5), Compensation (8) .
- Attendance and engagement: In 2024, each director attended at least 75% of meetings; average attendance was 98%; nine director nominees attended the 2024 Annual Meeting . The Board held 10 meetings in 2024 (7 regular, 3 special), plus executive sessions led by the lead director .
- 2025 shareholder voting signal: Bazin received 782,135,815 For / 24,136,914 Against / 1,195,548 Abstain votes at the May 6, 2025 annual meeting; Say-on-Pay also passed (570,651,393 For / 234,177,988 Against / 2,638,896 Abstain) .
Fixed Compensation
Director compensation is cash retainer plus time-vested equity; no meeting fees.
- 2024 GE Aerospace program: $140,000 annual cash retainer; $185,000 annual RSUs granted at the Annual Meeting; chair adders: Lead Director $50,000; Audit Chair $30,000; Compensation Chair $25,000; Governance Chair $20,000. Cash can be deferred into interest accounts and/or Phantom Units; RSUs vest after one year; total director comp capped at $1,000,000 per year .
- 2023 GE program (pre-spin): $275,000 (60% DSUs/40% cash); committee member fees (Audit $35k; Compensation $25k; Governance $10k); lead director $50k .
| Metric | 2023 | 2024 |
|---|---|---|
| Cash Fees ($) | $0 | $0 |
| Stock Awards ($) | $317,663 | $401,886 |
| All Other Compensation ($) | $0 | $0 |
| Total ($) | $317,663 | $401,886 |
Additional 2024 detail:
- Cash deferred (into DSUs/Phantom Units): $199,313 .
- RSUs accrued at FY-end: 1,169 units (unvested) .
- Grant-date stock prices for 2024 RSU/Phantom issuance reference: May 6 ($167.97), May 7 ($168.78), June 30 ($158.97), Sept 30 ($188.58), Dec 31 ($166.79) .
Performance Compensation
Directors do not receive performance-based incentives; equity is time-based.
| Component | Metric | Terms |
|---|---|---|
| Annual RSUs | None (time-based vesting) | Vest on one-year anniversary; dividend equivalents accrue in additional RSUs |
| Options | None | GE ceased granting stock options to independent directors; none outstanding |
| Cash Incentives | None | No cash incentive compensation for independent directors |
Other Directorships & Interlocks
| Company | Relationship | Independence Consideration |
|---|---|---|
| AccorHotels | Bazin is Chair & CEO | Transactions reviewed for independence; “Sales to GE Aerospace <1% of other company’s revenues”; Purchases from GE Aerospace N/A; Board determined independence preserved . |
- Overboarding policy: Public company executives limit = 2 boards (including their company); other directors = 4; all director nominees in compliance . Bazin’s roles (Accor executive + GE director) fall within limits .
Expertise & Qualifications
- Board skills matrix indicates Bazin contributes operations, public-company CEO experience, finance & accounting, investor/capital allocation, and global expertise; member of Compensation and Governance committees .
- Not designated an SEC “audit committee financial expert” (Goren, Lesjak, Garden are designated) .
Equity Ownership
Stock ownership guidelines for directors: hold ≥5x cash retainer ($700,000) via GE stock/DSUs/RSUs/Phantom Units; all directors compliant .
| Holding Type | Amount |
|---|---|
| Beneficially owned GE common shares | 0 (excludes DSUs/RSUs/Phantom Units) |
| DSUs accrued (company stock units) | 26,050 units (FY-end) |
| Phantom Units accrued | 534 units (FY-end) |
| Unvested RSUs accrued | 1,169 units (FY-end) |
| Shares pledged as collateral | None disclosed; company prohibits hedging & pledging |
Section 16 compliance: Company reports timely filings in 2024, with no delinquencies noted for Bazin (one late Form 4 for Ms. Gowder; two late for Mr. Ghai due to broker error) .
Governance Assessment
- Strengths: Long-tenured public-company CEO with global operations experience; serves on Compensation and Governance committees; high Board engagement (2024 avg 98% attendance; regular executive sessions); robust director ownership program with deferral flexibility; strict prohibitions on hedging/pledging and clawbacks across incentives .
- Alignment: While Bazin beneficially owns 0 common shares, he holds substantial DSUs/Phantom Units and unvested RSUs; GE requires 5x retainer ownership and reports full compliance, supporting alignment despite low “shares outstanding” disclosure .
- Potential conflicts: Concurrent Accor CEO role increases time-commitment risk, but GE’s overboarding limits permit two boards for executives and the Board’s annual independence review noted Accor transactions were immaterial (<1% revenues) and independence maintained .
- Shareholder signals: Strong 2025 re-election support for Bazin; ongoing high Say-on-Pay support (94% in 2024) and 2025 approval by vote counts—Board responsiveness to investor feedback on compensation design noted in proxy Q&A .