General Electric, the manufacturing icon grappling with swooning profits and a Justice Department investigation, agreed to pay new CEO Lawrence Culp a base salary of $2.5 million a year, 25 percent more than his short-tenured predecessor.

Culp, who previously led Danaher Corp. and had served on Boston-based GE’s board since April, was appointed Monday to succeed John Flannery as chairman and CEO. Flannery had succeeded Jeffrey Immelt in both roles only last year, and the conglomerate lost 58 percent of its market value during his tenure as he struggled to streamline the company and buoy cash flow after a large, ill-timed acquisition that predated his promotion.