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 | This article's lead section may be too short to adequately summarize the key points. (November 2024) |
Jack Welch | |
|---|---|
 Welch in 2012 | |
| Born | John Francis Welch Jr. November 19, 1935 Peabody, Massachusetts, U.S. |
| Died | March 1, 2020 (aged 84) New York City, New York, U.S. |
| Alma mater | University of Massachusetts Amherst (BS) University of Illinois at Urbana–Champaign (MS, PhD) |
| Occupations |
|
| Title | Chairman & CEO of General Electric (1981–2001) |
| Political party | Republican |
| Spouses | Carolyn B. Osburn
(m. 1959; div. 1987)Jane Beasley
(m. 1989; div. 2003) |
| Children | 4 |
John Francis Welch Jr. (November 19, 1935 – March 1, 2020) was an American business executive. He was Chairman and CEO of General Electric (GE) between 1981 and 2001.
His long career at General Electric (GE) has left a polarizing legacy. His decisions to adapt GE to a financial company have been poor for investors; Critics argue that his cut-throat work culture is responsible for the modern American capitalist philosophy of constant turnover and has decreased job stability in the United States since the 1980s. This culture has been adopted at many companies, such as Amazon and Uline.
When Welch retired from GE, he received a severance payment of $417 million, the largest such payment in business history up to that point.[1] In 2006, Welch's net worth was estimated at $720 million.[2]
- ^ Green, Jeff (June 6, 2013). "Jumbo Severance Packages for Top CEOs Are Growing". Bloomberg Businessweek. Retrieved July 10, 2014.[dead link]
- ^ Storrs, Francis (March 2006). "The 50 Wealthiest Bostonians". Boston magazine. Archived from the original on February 10, 2012. Retrieved October 3, 2008.