American business executive, perhaps the most touted CEO in America over the past 20 years.
The head of General Electric from 1981, Welch retired on 9/07/2001 with a record of returning more value to shareholders than even Bill Gates or Sam Walton, an increase of more than 3,000% during his tenure. His autobiography, Jack: Straight From the Gut, became an instant best-seller upon its publication in 2001.
Welch recreated GE, taking an inefficient company into an upwardly mobile behemoth that sells airplane engines, provides mortgages and runs a TV network. A ferocious deal-maker, he was named Manager of the Century by Fortune magazine. For 20 years, Jack worked his way through GE, including the plastics division and Credit corporation, rising to the top job in 1981, succeeding Reginald Jones. When he retired, he left his hand-picked successor, Jeff Immelt. He spent five weeks on a tour to promote the book that copped a $7 million dollar advance, and was then available as a Consultant. He joined a New York private equity firm as a special partner.
A slight man who speaks with a heavy Boston accent, Jack comes across like an ordinary Joe, putting people at ease. He can be blunt, crude, coarse, profane and funny, what may be called "paht of his chahm." He's a man's man with three passions