[ by Melanie Gretchen and Howard Haykin ]

Mary Schapiro, former SEC Chairwoman, accepted a handout from the private sector.  The General Electric Company offered Ms. Schapiro a directorship, subject to shareholder approval at the company's annual meeting on 4/24/13.

As a board member, Ms. Schapiro would earn about $250,000 – the amount GE directors were paid in 2011.  That compares favorably with her annual salary from the SEC of $165,000.  Ms. Schapiro has prior experience serving on boards of public companies.  Prior to joining the SEC, she served as a director of Duke Energy and of Kraft Foods. 

At GE, she would join the 19 board members, 17 of whom are not employees of the company or have material ties to the company.  GE Chairman & CEO Jeffrey Immelt said he looks forward to welcoming Ms. Schapiro to the board, and added the following:

"Mary Schapiro will bring valuable expertise to G.E., particularly with her experience overseeing U.S. financial markets.  Her understanding of corporate governance and financial regulation will be of great benefit to G.E. and its shareowners."

For further details, go to [Dealbook, 3/11/13].