Jack Welch, the influential business leader and champion of corporate efficiency who built General Electric Co. into one of the world’s largest companies has died at age 84.
He died on Sunday evening of renal failure in his New York city apartment, said his former assistant on Monday morning.
According to Bloomberg, the former GE chairman and chief executive officer, whose blunt style and ceaseless cost cutting earned him the nickname “Neutron Jack,” mentored people who went on to run some of the world’s best-known companies. Recognized as “Manager of the Century” by Fortune magazine in 1999, Welch presided over a stock surge of almost 3,000% during a two-decade tenure, and GE became the world’s biggest company by market value at more than $500 billion in 1999, before his legacy was dented in retirement by questionable accounting methods that surfaced recently and an ill-fated push into finance that later almost destroyed the company.
He stepped down afterwards but remained active for more than a decade as a consultant and media commentator.
President Trump sympathized with his family in a tweet calling him his friend and supporter.
President Trump@POTUS Retweeted
Donald J. Trump
@realDonaldTrump
Jack Welch, former Chairman and CEO of GE, a business legend, has died. There was no corporate leader like “neutron” Jack. He was my friend and supporter. We made wonderful deals together. He will never be forgotten. My warmest sympathies to his wonderful wife & family!
Jack Welch, former Chairman and CEO of GE, a business legend, has died. There was no corporate leader like “neutron” Jack. He was my friend and supporter. We made wonderful deals together. He will never be forgotten. My warmest sympathies to his wonderful wife & family!
— Donald J. Trump (@realDonaldTrump) March 2, 2020
Sent via TheWhiteHouse.
View original tweet.
Welch’s legacy took a blow after he retired. Read more about Welch’s exploits, interviews and more here
