Jack welch iconic general electric former ceo dies at age 84

Jack Welch, the legendary former CEO of General Electric (GE), passed away on March 2, 2020, at the age of 84. Welch, who served as GE's CEO from 1981 to 2001, was known for his transformative leadership and innovative approach to business.

Welch's tenure at GE was marked by significant growth and transformation, during which he implemented a number of strategies that became hallmarks of his leadership style. These included:

  1. Six Sigma: Welch introduced Six Sigma, a quality control program that aimed to reduce defects and variability in GE's products and processes. This initiative helped to improve efficiency, reduce costs, and enhance customer satisfaction.
  2. Boundaryless organization: Welch eliminated traditional departmental boundaries and encouraged collaboration across functions and levels. This approach fostered a culture of innovation, speed, and adaptability.
  3. Performance culture: Welch was known for his emphasis on performance and accountability. He introduced a system of merit-based promotions and bonuses, which encouraged employees to strive for excellence and take ownership of their work.
  4. Global expansion: Welch expanded GE's global presence, acquiring companies and establishing operations in new markets. This helped to diversify GE's revenue streams and increase its competitiveness.

Under Welch's leadership, GE's stock price increased by a factor of 30, and the company's market capitalization grew from $12 billion to over $400 billion. Welch's success at GE earned him numerous awards and recognition, including being named the "Manager of the Century" by Fortune magazine in 1999.

Welch's legacy extends beyond his achievements at GE. He was a vocal advocate for business and economic growth, and he wrote several bestselling books on leadership and management, including "Jack: Straight from the Gut" and "Winning."

Throughout his career, Welch was known for his candor, wit, and passion for business. He will be remembered as one of the most iconic and influential CEOs of his generation, and his legacy will continue to inspire and motivate business leaders around the world.