Jack Welch Former CEO and Chairman of GE Passed Away

Welch

Former CEO of General Electric Company (GE), Jack Welch, passed away late Sunday evening on March 2, 2020. He was surrounded by his loved ones, including his dogs during his final moments. It is reported that the cause of his death was renal failure. Welch was 84 years old.

Renal Failure happens when the kidneys lose the ability to remove waste from the body making balancing the body’s fluid impossible.

Welch was born under the name John Francis Welch Jr., on Nov. 19, 1935, in Peabody, Massachusetts.

He graduated from the Univerisity of Massachusetts in 1957, with his Bachelor’s of Science degree in chemical engineering.

In 1960, he received his Masters of Science and Ph.D. from the University of Illinois. After graduating from Illinois, Welch joined GE as a junior engineer. His salary at that time was $10,500.

He moved up quickly through the ranks at GE, making vice president in 1972. Welch became the youngest chairman and CEO in 1981.

Welch was married to Carolyn Osburn from November of 1959 to 1987. They had four children together. He married Jane Beasley in April of 1989 and divorced in 2003.

He was nicknamed “Neutron Jack” when he shut down factories, cut down payroll, and ended production of old-line units. He would reward his top 20 percent of managers with stock options and bonuses while the bottom 10 percent would be fired.

GE bought NBC and hundreds of other companies in the year 1986.

Fortune Magazine dubbed the CEO “Manager of the Century” in 1999.

The CEO retired from GE in September of 2001.

He married his widow Suzy Welch on April 24, 2004. He is survived by his wife, children, family, and friends. He shall be greatly missed may he rest in peace.

By Sheena Robertson

Sources:

IMDB: Jack Welch
GE: Past Leaders
NBC: Jack Welch, former chairman and CEO of GE, dies at 84
NEWS18: Jack Welch, CEO and Chairman Who Led General Electric’s Rapid Expansion, Dies at 84
CNN: Jack Welch, former GE CEO, is dead

Image Courtesy of jbstafford’s Flickr Page – Creative Commons License

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