Jack Welch: The Legend of CEO's Business Reengineering (The Interpretation Series of Business Titans)

Author: Zeng Meng
Publisher:
Publish Date: 2005-03-01
Features: Jack Welch was born on November 19, 1935, in Salem, Massachusetts. He earned a Bachelor's degree in Chemical Engineering from the University of Massachusetts in 1957 and a Ph.D. in Chemical Engineering from the University of Illinois in 1960. In 1960, Welch joined General Electric (GE) in the plastics division. By the end of 1971, Welch became the General Manager of GE's Chemical and Metallurgical Division. On August 1979, he became the Vice Chairman of General Electric. On April 1981, at the age of 45, Welch became the youngest Chairman and CEO in the history of General Electric. When Welch first took over GE, the company's revenue was $25 billion, with a profit of $1.5 billion, and its market value ranked only 10th among U.S. listed companies. By 1999, GE achieved $111 billion in sales revenue (world fifth) and $10.7 billion in profit (global ), with its market value ranking second in the world. When Welch first led GE, only three divisions—lighting, engines, and power—were market leaders. Today, 12 divisions are among the top two in their respective markets, and if ranked individually, nine of GE's divisions are included in the Fortune 500. Over the 19 years Welch led GE, the company made remarkable progress and was ranked first for three consecutive years in the U.S. "Most Admired Companies" list by Fortune magazine. Jack Welch's legend does not lie in the wealth and status he represents, but in his unique way of thinking and his relentless pursuit of good ideas. For those who refuse to settle for mediocrity and hope to gain inspiration from great minds, reading Welch is a wise choice.