Jack Welch, the legendary chief executive who transformed General Electric into one of the most successful companies of the last century during his tenure died today according to media reports. He was 84.
Welch was one of the most widely-followed and imitated CEOs of our time, who made lean operations a cornerstone of modern management and nurtured a who’s who of executives who went on to run many of the nation’s best-known businesses after leaving GE. He was named Chief Executive of the Year in 1993. He presided over a stock surge of nearly 3,000 percent during his tenure, according to Bloomberg.
But he also sewed the seeds of GE’s current decline by reshaping the company away from its industrial roots and into a financial-services powerhouse, with very mixed long-term results. A slew of M&A misfires—including deals for NBC, IXL and Kidder Peabody also tarnished his legacy.
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