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Jack Welch

Jack Welch

Actor

Born November 19, 1935 in Peabody, Massachusetts, USA

Died March 1, 2020

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Biography

Jack Welch was born to Irish-Catholic parents. He attended the University of Massachusetts, graduating in 1957 with a B.S. in chemical engineering. He later received his M.S. and Ph.D at the University of Illinois in 1960. Welch joined General Electric in 1960 as a junior engineer with a salary of $10,500. He moved up the ranks to become vice president of GE in 1972 and vice chairman in 1979. Welch became GE's youngest-ever chairman and CEO in 1981.

Welch gained a reputation as a brutal corporate leader. He shut down factories, reduced payrolls, and cut lackluster old-line units. He was dubbed "Neutron Jack" (in reference to the neutron bomb) for wiping out the employees while leaving the buildings intact. Each year, Welch would fire the bottom 10% of his managers. But he would also reward the top 20% with bonuses and stock options, and expanded the stock options program at GE to nearly one-third of all employees. Although he was initially treated with contempt by his employees for his policies, they eventually grew to respect him. Welch's strategy was later adopted by other CEOs across corporate America. Welch is known for destroying the nine-layer management hierarchy and bringing a sense of informality to the company.

In 1986, GE acquired NBC, as well as hundreds of other companies. In 1999 he was named "Manager of the Century" by Fortune magazine. His salary was a staggering $94 million a year, with a retirement plan of $8 million a year. Welch led GE to massive revenues (nearly $130 billion in 2000). Through its strong earnings and future growth estimates, GE was valued at $400 billion in 2004, making it the world's largest corporation. Welch retired from GE in September 2001.

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Filmography

Actor

22

Type

Year

CBS Saturday Morning Poster

CBS Saturday Morning TV Series2012Self

CBS This Morning Poster

CBS This Morning TV Series2012Self

The Men Who Built America Poster

The Men Who Built America Mini-Series2012Self - Former CEO, General Electric

Feherty TV Series2011Self

Piers Morgan Live Poster

Piers Morgan Live TV Series2011Self

Client 9 Poster

Client 9 Documentary2010Self - Former CEO of General Electric

Murder by Proxy: How America Went Postal Poster

Murder by Proxy: How America Went Postal Documentary2010Self - CEO, GE

30 Rock TV Series2006Jack Welch

On the Money Poster

On the Money TV Series2005Self - Former Chairman & CEO, General Electric

Tavis Smiley Poster

Tavis Smiley TV Series2004Self

The Apprentice Poster

The Apprentice TV Series2004Self - Former CEO: GE

The Big Idea with Donny Deutsch Poster

The Big Idea with Donny Deutsch TV Series2004Self

America's First River: Bill Moyers on the Hudson Poster

America's First River: Bill Moyers on the Hudson Mini-Series2002Self - Former CEO, GM

The Factor Poster

The Factor TV Series1996Self

Your World w/Neil Cavuto Poster

Your World w/Neil Cavuto TV Series1996Self

CNBC Squawk Box Poster

CNBC Squawk Box TV Series1995Self

The Tonight Show with Jay Leno Poster

The Tonight Show with Jay Leno TV Series1992Self

Charlie Rose Poster

Charlie Rose TV Series1991Self - Guest

Frontline Poster

Frontline TV Series1983Self

60 Minutes Poster

60 Minutes TV Series1968Self - CEO, General Electric

Today TV Series1952Self

Meet the Press Poster

Meet the Press TV Series1947Self - Former CEO, General Electric

Thanks

1

The Apprentice Poster

The Apprentice TV Series2004

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