03-02-2020, 02:15 PM
Business executive Jack Welch, who transformed General Electric during his tenure as CEO, has died. He was 84.
“Today is a sad day for the entire GE family. Jack was larger than life and the heart of GE for half a century,” said current CEO Larry Culp in a statement to Barron’s. “He reshaped the face of our company and the business world. Jack was a strong and constant influence throughout my career despite never having worked directly for him.”
Culp said Welch remained committed to GE’s success long after his retirement. “He will be deeply missed by me and the entire GE team.”
Welch led General Electric (ticker: GE)—the company founded, in part, by Thomas Edison in 1892—for about 20 years, starting in April 1981 and retiring in September 2001. Under his leadership, GE stock returned almost 25% a year, on average, about 8 percentage points better than the Dow Jones Industrial Average over the same span.
https://www.barrons.com/articles/jack-we...1583158116
“Today is a sad day for the entire GE family. Jack was larger than life and the heart of GE for half a century,” said current CEO Larry Culp in a statement to Barron’s. “He reshaped the face of our company and the business world. Jack was a strong and constant influence throughout my career despite never having worked directly for him.”
Culp said Welch remained committed to GE’s success long after his retirement. “He will be deeply missed by me and the entire GE team.”
Welch led General Electric (ticker: GE)—the company founded, in part, by Thomas Edison in 1892—for about 20 years, starting in April 1981 and retiring in September 2001. Under his leadership, GE stock returned almost 25% a year, on average, about 8 percentage points better than the Dow Jones Industrial Average over the same span.
https://www.barrons.com/articles/jack-we...1583158116
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