Sign in

Marker
Pop business for the intelligent reader. A publication from Medium.

Ge

In Marker. More on Medium.

I READ IT SO YOU DON’T HAVE TO

In ‘Hot Seat,’ Jeff Immelt gives his version of the iconic American conglomerate’s downfall

I Read It So You Don’t Have To is a new series that gives you the TL;DR on a new business book you want to read — but don’t have time to.

What did I read?

Jeff Immelt’s new memoir, Hot Seat: What I Learned Leading a Great American Company, published last month.

So who’s Jeff Immelt?

Immelt, once considered a human embodiment of corporate innovation, was the ninth CEO and chairman of General Electric, the American conglomerate better known as GE, from 2001 to 2017. Having served as a manager in GE’s plastics, appliances, and health care divisions through the ’80s and ’90s, he eventually won a…


The GE icon became famous for conflating leadership with stock price — a practice that still haunts most businesses today

Jack Welch, former Chairman and CEO of General Electric, in his New York City apartment.
Jack Welch, former Chairman and CEO of General Electric, in his New York City apartment.

Jack Welch had terrific timing. Or at least he did in one key aspect of his long tenure as the chief executive officer of General Electric: Welch, who died yesterday at age 84, took the reins in the early 1980s — shortly before the start of the one of the great bull market runs in the history of the U.S. stock market. He retired in September 2001; his successor took over just a few days before 9/11, and right in time to absorb the dot-com meltdown.

This is not to say that the G.E.’s share price rose through Welch’s tenure…

Marker

Pop business for the intelligent reader. A publication from Medium.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store