The group is now struggling as the conglomerate model the former CEO championed is out of fashion
Jack Welch was a legend by the time he retired from General Electric in 2001 after two decades. Fortune magazine named him “manager of the century”. Welch, who died on Sunday, insisted his success would be measured by how well his successors did. On this count, his legacy looks shaky.
GE published a subdued update on its 2020 prospects on Wednesday. The group is a shadow of its former self. Its push into financial services nearly sank the company during the financial crisis. The empire Welch built is being dismantled piece by piece.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.
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