March 2, 2020 | Investopaper
Jack Welch, the former Chief Executive of General Electric has died on Sunday. At the age of 84, Welch died of renal failure at his home.
He led the General Electric for 20 years from 1981 to 2001. During his leadership at the conglomerate, the market value of GE increased from $ 14 billion to more than $400 billion.
In 1999, Fortune magazine named Welch “Manager of the Century”. His enormous success in GE led to his popularity and the praise for his managerial skills oriented towards creating value for the shareholders.
He was also infamously known as “Neutron Jack” as he expelled tens of thousands of jobs during his period at the company.
Jack Welch always strived to improve the business continuously. He was also known for diversifying the GE into other businesses with acquisition or merger process.
He was born in 1935 and studied Chemical Engineering at the University of Massachusetts. His father was a conductor for a railroad.