11 level for virtually all of Immelt’s 16 years as CEO. The shares would lag behind the pre-Sept.
Welch’s legacy was dented in retirement, as GE’s stock lost a third of its value within a year. Another GE executive, Jeffrey Immelt, would best them to succeed Welch.
James McNerney Jr., who later became Boeing Co.’s CEO, and Robert Nardelli, who ran Home Depot Inc. Imitators across corporate America copied his leadership strategies, and recruiters snapped up lieutenants including W. GE became the world’s biggest company by market value at more than $500 billion in 1999. Business leaders extolled his ability to boost profit and shareholder wealth with his restless, results-driven approach.
