Jack Welch, Longtime CEO of General Electric, Dies at 84

Tarrah Gibbons
March 02, 2020 - 6:52 am
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Jack Welch has died at the age of 84.

Welch led General Electric as chairman and was the CEO for two decades.

His death was announced by his wife Suzy, reported CNBC.

As a successful business man, Welch grew the company’s market value from $12 billion to $410 billion.

He began working for General Electric in 1960 as a chemical engineer. In 1972, he was a vice president, and then by 1979 he was the chairman. In 1981, he took on the role as CEO and then retired in September 2001.

During his 21 years at the company, he transformed GE with much success, using his techniques in management. The business man bought multiple businesses as well as expanding GE into consulting and financial services. GE Capital Bank was founded several years into his tenure.

Welch was given the nickname "Neutron Jack" for his efforts in decreasing the GE workforce. With 400,000 employees at the end of 1980, Welch was able to get that number down to 300,000 just five years later.

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