Legendary General Electric Chief Jack Welch Has One Big Retirement Tip


Penney Vanderbilt and KC Jones: All About Railroads

The Street

The concept of retirement is outdated, suggests long-time General Electric CEO Jack Welch.

Jack Welch isn’t your average 82-year-old business tycoon.

The former chief executive officer of General Electric Co. (GE – Get Report) started working at the company in 1960, a freshly-minted chemical engineering PhD, at a plant in Pittsfield, Mass. He had a starting salary of $10,500.

In 2001, Welch retired from his position as CEO of the same company with a $417 million severance package, the biggest type of payment made to any U.S. CEO in recent history.

Along the way, Welch increased GE’s market value by an impressive $300 billion. He whipped a struggling industrials company into a global leader by implementing widespread change and stark cost-cutting that earned him the nickname “Neutron Jack.”

With all his successes in a storied career, what are Welch’s tips for retiring smart? Just don’t

View original post 250 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s