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Last Updated : Mar 02, 2020 07:55 PM IST | Source: Moneycontrol.com

Former General Electric CEO Jack Welch dies at 84

Welch was responsible for the streamlining of GE's bureaucratic system by giving the managers free rein to make changes as they deemed fit.

Image: Reuters
Image: Reuters

Jack Welch, the former Chief Executive Officer (CEO) of General Electric who led the company for over two decades, has died at the age of 84.

Welch's death was announced on March 2 by his wife, CNBC has reported.

Welch took GE's revenue from under $30 billion when he took over in 1981 to $130 billion by 2000. Under his leadership, the market value of the company skyrocketed to roughly $400 billion from $12 billion.

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Welch had earned two titles for himself— "manager of the century" and "Neutron Jack", the latter for slashing jobs.

Welch was also responsible for the streamlining of the company's bureaucratic system by giving the managers free rein to make changes as they deemed fit.

Welch was also the author of several books, including Jack: Straight from the Gut and The Real-Life MBA.

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First Published on Mar 2, 2020 07:46 pm
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