Jack Welch, who brought celebrity and swagger to the General Electric Co (GE.N) executive suite in the 1980s and 1990s by transforming a conglomerate best-known for light bulbs into the most valuable U.S. public company, has died at 84, GE said on Monday.
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Known as “Neutron Jack” for cutting thousands of jobs, Welch bought and sold scores of businesses, expanded the industrial giant into financial services and produced steadily rising profits. His success led other CEOs to begin using financial wizardry to improve earnings and wow Wall Street.
In Welch’s 20 years as CEO, GE’s market value grew from $12 billion to $410 billion, making Welch one of the most iconic corporate leaders of his era.
