Word: immelt
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Dates: during 2000-2009
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Jeffrey R. Immelt became CEO of General Electric (G.E.) on September 7, 2001. Four days later, the world changed...
...Immelt had just inherited the reins of what is, by market capitalization, the world’s largest company—and from one of the most venerated of industry captains no less: corporate management guru Jack Welch...
Almost four years later, having carried the company through a weak economy battered by corporate scandals and a lack of consumer confidence, Immelt has survived, albeit sustaining a sharp plunge in G.E.’s market value since...
...would have been natural for Jeffrey Immelt to reflexively embrace the strategies of his predecessor, storied über-CEO Jack Welch, who built GE into one of the world's most profitable companies. But Immelt, 48, quickly went his own way, imposing new long-term strategies. When scandal erupted over Welch's perk-laden send-off, Immelt responded by taking a lead role in corporate reform. For starters, he put more independent directors on the board and got rid of stock options as part of his pay. "We know we are studied," he says. "We feel we have a responsibility...
...forceful bearing of an offensive lineman, has compared it to playing in the Super Bowl--"the last two minutes for two years." He lobbied Welch for the chance to run his own unit, then took GE's weakest business--making electricity-generation equipment--and quadrupled its sales. But Jeff Immelt, who was known for his polish and intellect and ran GE's cutting-edge medical-systems business, won the top job. The other contender, Jim McNerney at GE Aircraft Engines, entertained an offer from 3M before the race was even over. That's not Nardelli's style...