There's no argument. Immelt ruined GE. The only point to make beyond that is Welch doesn't get a pass because he picked Immelt. Immelt was so bad that even Welch now has doubts about himself. When has Jack Welch ever expressed doubt about his decision making? Now. About Immelt. That's how bad Immelt was. Welch now has to wonder how much of what he did was complete BS. He is frank that at least the pick of Immelt was complete c-ap.
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The JW vs. JI argument is designed to divert the attention away from the person who has had the reigns for the last 17 years. GE was destroyed by: ego, greed, distaste for reality and dissent, and penchant for making mega-deals on a whim. The unchecked power of CEO and Chairman roles combined with one man's super-ego are the ultimate cause. Former directors who dared to have a differing opinion were promptly pushed out. GE was not a meritocracy; it was a monarchy.
https://www.cnbc.com/2018/12/19/ex-ge-director-ken-langone-blasts-fallen-giant-as-unfortunate-disaster.html
https://www.google.com/amp/s/chiefexecutive.net/who-killed-ge-not-jeff-immelt/amp/
https://seekingalpha.com/amp/article/4229041-ge-just-facts-maam
Welch started managing to culture instead of results.
good article and a lot of what is stated should have come out years ago. it does miss the ultimate point, power corrupts. the GE execs all became infatuated with their power, themselves and sometimes with those of the opposite s-x (B C ???). In the end there was little to stand on when it was largely built on powerpoint