April/08: Following in the footsteps of Jack Welch hasn’t been easy for General Electric CEO Jeff Immelt. Since he took the company helm just days before September 11, 2001, Immelt has had to calm the frayed nerves of his stockholders, juggle consolidation strategies, help the company perform in a punishing market, contend with heavy criticism over his handling of GE Finance, and remain calm through heated debates over S&P’s recent downgrade of GE.
As the New York Times wrote this past January, Immelt “carries the still-tender scars from G.E.’s first-quarter (2009) bombshell and the inexplicable friendly fire sprayed by his cranky predecessor.”
In spite of both resistance and detractors, GE remains strong, and Immelt has orchestrated sweeping and successfully transformative campaigns for the company. JEFF IMMELT AND THE NEW GE WAY: Innovation, Transformation, and Winning in the 21st Century is the first book to offer an insider’s view of the cultural sea change within General Electric since the beginning of Immelt’s tenure. Author David Magee, who had unprecedented access to Immelt and members of his senior management teams and board, offers an in-depth study of this highly debated business leader who continues to overhaul the corporate giant using a new set of growth-driven strategies, along with a “healthy disrespect” for the company’s 107-year-old history.
Immelt has a long history with General Electric. Beginning as a manager with 15 direct reports at GE Plastics in Dallas, and currently overseeing the global giant with more than 327,000 employees over five divisions, Immelt’s leadership style strives to consistently reinvent the company for the long haul.
From the instantaneous abandoning of Welch’s “rank and yank” culture to an environment that rewards “imagination breakthroughs;” from his focus on environmentally sensitive areas like renewable energy and water treatment to pushing the boundaries of the company’s global business, Immelt continues to pursue GE’s long-term success through change and evolution.
General Electric’s performance in the 21st century continues to be hotly debated. Magee notes that in spite of the current climate, Immelt’s belief in diversification will ultimately serve to ignite growth in an improved market. JEFF IMMELT AND THE NEW GE WAY delves into the signature management qualities of the CEO that help the company stand out as a world-renowned leader.
ABOUT THE AUTHOR
David Magee is the author of How Toyota Became #1; Turnaround: How Carlos Ghosn Rescued Nissan; The John Deere Way; and Ford Tough. His books have been reviewed in The Wall Street Journal, The Harvard Business Review, and Newsweek.