Word: welch
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Dates: during 2000-2009
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...career was not the only change in Bush's life. In 1977, he married Laura Welch, a former librarian and teacher who he had known in junior high school...
Yeah. But two other GE executives were possibly even bigger winners than Immelt: Robert Nardelli and W. James McNerney, two Welch-trained knights-in-the-running who failed to win the crown. With Welch's shoes filled--if that's possible--these executives won't stay at GE much longer, and the pay packages that land them will probably dwarf what will initially be given to Immelt. A signing bonus in the tens of millions of dollars? Instant vesting in stock plans? Huge guaranteed annual bonuses? A big chunk of the company? Such goodies are widely available to top-flight...
...Conseco: $45 million to sign and a special bonus of as much as $50 million, depending on the stock price in two years. Oh, and a salary, bonus, stock grants and options worth more than $3 million annually. Wendt, it's worth noting, is a grad of the famous Welch U., having run GE Capital Services until two years...
...Indeed, Welch, who will be with GE another year, seems to have already said his goodbyes. "You can be sure that they're being pursued very aggressively on the outside and are evaluating their options," he said of Nardelli and McNerney while announcing that Immelt will be his successor. It was as though he wanted to start a bidding war. Was that the consolation prize...
JEFF IMMELT Jack Welch successor wins keys to business world's Rolls. Can add huge book advance to new salary...