BOSTON - General Electric Co Chief Executive Jeff Immelt recommended the board pay him no bonus in 2008 in light of the drop in the U.S. conglomerate's earnings and share price, he said in a statement posted to a company Web site on Wednesday.

But the head of the largest maker of jet engines and electricity-producing turbines said it was important GE be able to pay its top executives in a fair and reasonable way, Immelt said in the statement.

(Reporting by Scott Malone; Editing by Derek Caney)