He also encouraged a culture of innovation and experimentation, and made strategic acquisitions to expand GE’s portfolio of businesses. He focused on cost-cutting and efficiency, and implemented the “rank and yank” system, in which the bottom 10% of performers were let go each year. He began his career at GE in 1960 as a chemical engineer and quickly rose through the ranks, becoming Vice Chairman in 1979, and CEO in 1981.ĭuring his 20-year tenure as CEO, Welch implemented a series of bold changes at GE, which came to be known as “Welch’s way”. ![]() ![]() Welch was born in 1935 in Peabody, Massachusetts, and earned a bachelor’s degree in chemical engineering from the University of Massachusetts and a master’s degree in chemical engineering from the University of Illinois. During his tenure, Welch transformed GE into one of the most valuable and profitable companies in the world, through a focus on efficiency, cost-cutting, and strategic acquisitions. Jack Welch is a retired American businessman and author who is best known for his role as CEO of General Electric (GE) from 1981 to 2001.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |