One of America’s top Black executives, Russell Stokes, the president, and CEO of Commercial Engines & Services at GE Aerospace, received a compensation package of $6.86 million from the leading aircraft engines supplier in 2022.
The compensation package represents a 5.21-percent increase from the prior year’s salary of $6.52 million — showcasing Stokes’ significant contributions to the financial performance of the Ohio-based jet provider and aircraft engines supplier throughout 2022.
Stokes — who has been CEO of five GE businesses over his expansive career — received a compensation package that includes a base salary of $1.4 million, as well as a short-term incentive of $1.65 million, underlining his outstanding leadership and contributions.
In line with his unwavering dedication and expertise, Stokes also received a long-term incentive award amounting to $2.55 million from the Ohio-based jet provider and aircraft engines supplier.
Stokes’ career ascension: A two-decade journey through GE’s corporate ladder
GE Aerospace, established over a century ago, remains a world-leading provider of jet and turboprop engines alongside integrated systems for commercial, military, business, and general aviation aircraft — it works closely with suppliers around the globe.
Stokes joined GE in 1997, rising through the ranks with stints at GE Lighting and GE Aviation. He held crucial roles like sourcing general manager, services chief risk officer, and finance leader before leading the GE Power Portfolio in 2020. In June 2022, he took the helm of C&S, overseeing a $20-billion business and 12,000 employees.
Russell Stokes’ 0.0077-percent stake in GE Aerospace surpasses $10-million mark
At the helm of GE Aerospace’s $20-billion Commercial Engines & Services (CES) division, Stokes is a force to be reckoned with. Since assuming his role as President and CEO in June 2022, he has steered a team of approximately 12,000 employees and overseen an industry-leading portfolio of engines and services.
His leadership has yielded impressive financial results for GE Aerospace in recent years. The group saw a 3.19-percent revenue increase in 2022, reaching $76.56 billion, compared to $74.19 billion in 2021. This upward trajectory speaks volumes about Stokes’ strategic vision and execution capabilities.
Beyond his executive responsibilities, Stokes demonstrates a personal commitment to the company’s success through his investment. He holds a 0.0077-percent minority stake in GE Aerospace, equivalent to 83,926 shares with a present value of $10.34 million. This stake positions him as one of America’s most affluent Black executives and underscores his vested interest in the company’s long-term prosperity.