Dubbed the"manager of the century," by Fortune magazine in 1999, Welch transformed GE into a sprawling conglomerate during his two decades as chief executive.
The company's market capitalization grew from $12 billion when he took over in 1981 to $410 billion on his departure. As the layoffs mounted, he became known as"Neutron Jack" due to his reputation for eliminating workers and jobs without demolishing the buildings they worked in. The hard-charging executive said in a 2005 television interview that he hated the nickname."There was no corporate leader like 'neutron' Jack," Trump tweeted."He was my friend and supporter. We made wonderful deals together. He will never be forgotten," the president said.
Immelt's reign was also marked by the bursting of the Internet bubble and the global financial crisis, forcing him to sell off NBCUniversal to cable operator Comcast, while GE Capital, caught up in a subprime mortgage crisis, had to liquidate one asset after another.
Source: News Formal (newsformal.com)
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: fmtoday - 🏆 5. / 72 Read more »
Source: fmtoday - 🏆 5. / 72 Read more »
Source: fmtoday - 🏆 5. / 72 Read more »
Source: staronline - 🏆 4. / 75 Read more »
Source: staronline - 🏆 4. / 75 Read more »
Source: staronline - 🏆 4. / 75 Read more »