Word: immelt
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...taking over the reins from Jack Welch, one of the most acclaimed CEOs of the 20th century, General Electric's incoming chief, Jeffrey Immelt, 45, doesn't seem at all fazed. "Believe it or not, I know, operationally, how to do this job," says the towering, outgoing Immelt. He knows how to do a lot of jobs, having spent almost 20 years at GE. Most recently he ran its medical-systems business. "It's not like I have to go up on the mountain for 40 days and come down with a bunch of stone tablets," Immelt says...
...ascendancy this Friday, when Welch, 65, will formally end his storied, two-decade run at a board of directors' meeting, Immelt was clearly rarin' to get started. At times, this sharp, self-deprecating Midwesterner could barely contain his enthusiasm, peppering his conversation with exclamations of "I dig it!" or "I'm all over that like a beast!" "Inside the company," he declared, as movers cleared out Welch's Rockefeller Center office to make way for him, "the transition's already over...
...Jacques Nasser to drive a Toyota for 20% of the day," says Yale economist Barry Nalebuff, who advised GE. Monti asked Welch to consider the terms and return that afternoon. Welch did, and rejected them. The next day, Welch called Card and flew back to the U.S. Jeff Immelt, his successor as CEO of GE, went to the Paris air show to pronounce the deal dead...
...been able to offer customers an irresistible package--especially since GE, through its aircraft-leasing division, is itself a customer for planes. The commission sympathized with GE's competitors and asked the company to make disposals of assets way beyond anything that Welch and his successor as CEO, Jeffrey Immelt, deemed reasonable. GE hasn't formally walked away, in part to assuage Honeywell stockholders who might otherwise sue, in part because the full commission has yet to endorse Monti's view, and in part because hope springs eternal. But few now bet the deal will go through...
...Indeed, many have turned to GE. W. James McNerny Jr., one of GE's top three contenders for CEO, was snatched up by 3M when GE handed the torch to Jeffrey R. Immelt, former president and CEO of GE Medical Systems...