“It’s an enormous loss.” Home Depot co-founder and former GE board member Ken Langone remembers Jack Welch.
Jack Welch, a railroad conductor's son who became chairman and CEO of General Electric and led it for two decades, growing its market value from $12 billion to $410 billion, has died. He was 84.
With a determination to win by busting up bureaucratic complacency, Welch earned two titles — "manager of the century," and "Neutron Jack," the latter for slashing tens of thousands of jobs. Welch had said he hated the nickname. Under his leadership,While at the helm, Welch bought and sold scores of businesses, expanding the industrial giant into financial services and consulting. GE Capital Bank was founded seven years into his tenure.
Fortune magazine dubbed him "manager of the century" in 1999. "Though he acted with what seemed at the time like blitzkrieg aggressiveness, he regretted in later years that he hadn't moved even faster,"in explaining the title. "Having been handed one of the treasures of American enterprise, he said, he was 'afraid of breaking it.' Not only did Welch not break it, but he transformed it as well and multiplied its value beyond anyone's expectations.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Jack Welch, the GE chief who became a superstar, has diedBOSTON (AP) — Jack Welch, who transformed General Electric Co. into a highly profitable multinational conglomerate and parlayed his legendary business acumen into a retirement career as a...
Read more »
Jack Welch, Legendary CEO Of General Electric, Dead At 84Welch, dubbed 'manager of the century' in 1999 by Fortune magazine, grew GE into an industrial powerhouse. During his reign, the company's market value skyrocketed to $410 billion from $12 billion.
Read more »
Jack Welch, Legendary CEO of General Electric, Dies at Age 84The General Electric chief executive led the conglomerate through two decades of unparalleled growth with a brash style that remade the conglomerate and changed American corporations. He died at age 84.
Read more »
Jack Welch, Former General Electric CEO And Chairman, Dies At 84Welch was one of the country’s most influential thought leaders in business.
Read more »
Jack Welch, former chairman and CEO of General Electric, dies at 84Welch began at GE in 1960 as a chemical engineer. In 1981, he became the chairman and CEO of GE, at the age of 45.
Read more »
Jack Dorsey, Twitter's Eccentric CEO, Could Be Looking For A Job SoonTwitter's CEO Jack Dorsey is at risk of losing his job after a powerful investor is pushing for change. It thinks Dorsey, who is also CEO of another company, is not focused enough on Twitter.
Read more »