Businessman

Jack Welch

Jack Welch

Born:

Jack Welch is a retired American business executive, Chemical Engineer and former CEO of General Electric, born on 19 November 1935, In U.S.

Family Background:

He is the son of John Francis Welch, Sr, and his wife Grace. His father was a Boston & Maine Railroad conductor and his mother was a homemaker. He comes from Roman Catholic Family.

Personal Life:

He married three times in his life. First, He married Carolyn Osburn in 1959. He has four children with her. They divorced after 28 years of marriage in April 1987. In April 1989, He married Jane Beasley who was a lawyer. They divorced in 2003. In 2004, He married his third wife Suzy Wetlaufer.

Education:

He attended the Salem High School where he participated in various games including Baseball, Football and as a captained in Hockey team. Later he completed his graduation with a Bachelor of Science degree in Chemical engineering from the University of Massachusetts in 1957. In 1960, He completed his Master degree and Ph.D. in Chemical Engineering from University of Illinois.

Career:

In 1960, After completing his education, He joined the General Electric as a junior chemical engineer in the plastics division with $10,500 salary. In 1961, He quit his job, because he was disappointed with the raise offered to him. He had been persuaded to stay by an executive, Reuben Gutoff, and reluctantly agreed. In 1963, There was an explosion at a factory building under his management and after this incident, He had been almost fired for this. After this, He continued to work for GE. By 1968, He became a vice president and Head of GE’s plastics division. In 1971, He became the Vice president of GE’s metallurgical and chemical divisions. In 1973, He had been appointed as the head of strategic planning for GE. He had held this position for the next six years, managing a $2 billion portfolio of businesses. Not long after his promotion, In 1977, He was named as senior vice president and head of Consumer Products and Services Division. In 1979, He became the vice chairman. In 1981 at the age, 45-year-old Welch had become over the reigns from his predecessor to become General Electric’s youngest chairman and CEO. From 1981, He served as chairman and CEO of the company for 20 years till his retirement in 2001.

Unknown Facts:

  • He served as Chairman of the Business Council in 1991 and 1992.

Master Stroke:

  • He is also an author and written several books on Management and Leadership such as 2005 bestseller, ‘Winning’  which was co-written with his wife Suzy.

Awards and Achievements:

  • In 1999, He named as the “Manager of the Century”.

What can we learn from Him??

Like Jack Welch, Make your own rules and follow them. Always be ready to learn new things.

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