March 2- Jack Welch, who presided General Electric Co in the 1980s and 1990s to make it the most valuable company in the U.S. market, died Monday at age 84.
Jack Welch – known as “Neutron Jack” because he eliminated thousands of jobs. He led the sale and purchase of dozens of businesses, expanding the presence of the industrial giant to financial services and consulting.
Lowered its guidance, the market value of GE grew from 12,000 million dollars to 410,000 million.
But its choice to develop GE Capital’s financing business almost destroyed the company during the global financial crisis more than a decade ago. GE is now worth a fraction of what it was worth.
The president of the United States, Donald Trump, tweeted that there had been no corporate leader like ‘Neutron Jack’. He had been his friend and supporter. He had done a wonderful business together. His deepest condolences to his wonderful wife and family! “
In December 1980, it was said that he would replace Reginald Jones as executive president, and in April 1981, he assumed the company’s eighth president and chief executive.
He worked in that position until he retired in September 2001, replaced by Jeff Immelt. GE experienced great growth and expansion under Welch’s leadership. The company expanded between 1981 to 2001.
A professor at McDonough Business School at Georgetown University, Thomas Cooke, said that when the book on business leaders of that century was written, Jack Welch would be very high on the list. What he had done as a GE leader had been fabulous.
Welch said in a book called “Winning” that before being a leader, success was about personal growth. When you became a leader, success was about making others grow.
In 1999, Fortune named Jack Welch the “manager of the century”. And the Financial Times mentioned him as one of the three most valued business leaders in the world.