Former GE CEO Jack Welch dies at 84.
"If you grew up in business in the '90s, early 2000s, Jack Welch had a huge impact on the way you approach business," said Timothy Hubbard, assistant professor of management at the University of Notre Dame’s Mendoza College of Business, who studies CEOs.
Welch, who was born in 1935, joined GE as a chemical engineer in 1960 after earning degrees from the University of Massachusetts and the University of Illinois. During his reign, GE also acquired companies like RCA, which then owned NBC, and investment bank Kidder Peabody. He went by the motto"fix it, close it or sell it," which he said he got from management consultant Peter Drucker.
Along with Welch’s fame came greater scrutiny. Welch found himself defending his retirement compensation from GE. Amid a wave of corporate scandals, details of Welch’s GE perks emerged in court papers amid his divorce from his wife of 13 years, Jane Beasley, in 2002. He received millions of dollars in benefits, including unlimited personal use of GE’s planes, office space and financial services.
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