- Jack Welch, the former CEO of General Electric, has died at the age of 84.
- Visit Business Insider’s homepage for more stories.
Jack Welch, the former CEO of General Electric, has died at the age of 84.
His death was announced on Monday by his wife, Suzy, according to CNBC.
—CNBC (@CNBC) March 2, 2020
Welch has a legendary tenure at General Electric, in which its value rocketed from $12 billion to $410 billion, according to CNBC.
Welch began working for General Electric in 1960 as a chemical engineer. By 1972 he was a vice president, and by 1979 he was chairman. In 1981 he took on the additional role of CEO, which he held until his retirement in September 2001.
In his 21 years as CEO, Welch transformed GE into the world’s most admired and successful company with his innovative management techniques.
Revenues grew five-fold from $25 billion to $130 billion, income grew ten-fold, from $1.5 billion to $15 billion, and the company’s market capitalization had a 30-fold increase of more than $400 billion.
His achievements are considered epic, and as a result, thousands of companies around the world have adopted the Welch Way.
In 2010, Welch founded the Jack Welch Management Institute, a business school that offers executive education and management training.
This is a developing news story, please check back for updates.
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