Search Results - Welch, Jack

Jack Welch

John Francis Welch Jr. (November 19, 1935 – March 1, 2020) was an American business executive, chemical engineer, and writer. He was Chairman and CEO of General Electric (GE) between 1981 and 2001.

His long career at General Electric (GE) has left a polarizing legacy. Some people view these changes as necessary and have adopted his philosophy at other companies to keep what they view as a productive workforce. These decisions to adapt GE to a financial company have been poor for investors; Critics argue that his cut-throat work culture is blamed for the modern American capitalism philosophy of constant turnover and has been criticized for decreasing job stability in the United States during the post-1980s era. This cutthroat work culture has been adopted at many companies, such as Amazon (company) and Uline , which are known for their constant turnover and cutthroat work culture, which Welch pioneered.

When Welch retired from GE, he received a severance payment of $417 million, the largest such payment in business history up to that point. In 2006, Welch's net worth was estimated at $720 million. Provided by Wikipedia