The Welch Succession

Author: Wu Hongyuan Zhang Wei (editors)
Publisher:
Publish Date: 2004-02-01
Features: "In the past 20 years, my best idea was choosing Jeff Immelt to be your next Chairman and CEO." Can Jack Welch's choice stand the test of practice? In the nearly three years since Immelt took over as CEO of GE, he has created his own leadership style, guiding the company to steady growth. It can be believed that Immelt is the only leader who can continue GE's legend. "On the day of the 9/11 incident, I had just been in office for four days, and the whole world changed. The economy was in a downturn, and the financial system also changed. My goal was to lead GE into the 21st century, so I had to lead the company with my personal personality and style. I wouldn't follow Jack's old path, and I didn't want to compare myself with Welch." Three years ago, Immelt faced a tricky question: should he stand on the shoulders of giants or hide in their shadows? The issue was whether he could keep the giant GE moving forward rather than dragging its feet. Three years later "Why do people always say how Jack (Welch) is, and how Jeff (Immelt) is, can't I do better than him?" Immelt demonstrated confidence, ambition, and decisiveness with his undeniable performance.