In 1999, Fortune magazine named Welch as its “Manager of the Century.”įor his first book, “Jack: Straight From the Gut,” Welch received a $7.1 million advance. Welch’s results-driven management approach and hands-on style were credited with helping GE turn a financial corner, although some of the success came at the expense of thousands of employees who lost their jobs in Welch’s relentless efforts to cut costs and rid GE of unprofitable businesses.īusiness success and outspokenness brought him wide fame. During his tenure, GE’s revenue grew nearly fivefold, and the firm’s market capitalization increased 30-fold. He personified the so-called “cult of the CEO” during the late-1990s boom, when GE’s soaring stock price made it the most valuable company in the world.Ī chemical engineer by training, Welch transformed the company from a maker of appliances and light bulbs into an industrial and financial services powerhouse. Welch became one of the nation’s most well-known and highly regarded corporate leaders during his two decades as GE’s chairman and chief executive, from 1981 to 2001. I was labeled abrasive and consistently warned my candor would soon get in the way of my career … and I’m telling you that it was candor that helped make it work.” - Jack Welch “From the day I joined GE to the day I was named CEO, 20 years later, my bosses cautioned me about my candor.
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