9/17/2023 0 Comments Lights out ge summary![]() That won’t protect any CEO from second-guessing, but Immelt explains how he’s pushed through even the most withering criticism: by staying focused on his team and the goals they tried to achieve. Perseverance, combined with clear communication, can ensure progress, if not perfection, he says. But knowing what to do is a thousand times easier than knowing when to do it. The most crucial component of leadership, he writes, is the willingness to make decisions. In Hot Seat, Immelt offers a rigorous, candid interrogation of himself and his tenure, detailing for the first time his proudest moments and his biggest mistakes. But the stock market rarely rewarded his efforts, and GE struggled. Immelt set out to change GE’s focus by making it more global, more rooted in technology, and more diverse. But Immelt’s biggest challenge was inherited: Welch had handed over a company that had great people, but was short on innovation. Over the next sixteen years, Immelt would lead GE through many more dire moments, from the 2008–09 Global Financial Crisis to the 2011 meltdown of Fukushima’s nuclear reactors, which were designed by GE. Facing an unprecedented situation, Immelt knew his response would set the tone for businesses everywhere that looked to GE-one of America’s biggest and most-heralded corporations-for direction. GE was connected to nearly every part of the tragedy-GE-financed planes powered by GE-manufactured engines had just destroyed real estate that was insured by GE-issued policies. Less than a week into his tenure, the 9/11 terrorist attacks shook the nation, and the company, to its core. In September 2001, Jeff Immelt replaced the most famous CEO in history, Jack Welch, at the helm of General Electric. Compare Standard and Premium Digital here.Īny changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel.Hot Seat: What I Learned Leading a Great American CompanyĪ memoir of successful leadership in times of crisis: the former CEO of General Electric, named one of the “World’s Best CEOs” three times by Barron’s, shares the hard-won lessons he learned from his experience leading GE immediately after 9/11, through the economic devastation of the 2008–09 financial crisis, and into an increasingly globalized world. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many user’s needs. If you’d like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month.įor cost savings, you can change your plan at any time online in the “Settings & Account” section. For a full comparison of Standard and Premium Digital, click here.Ĭhange the plan you will roll onto at any time during your trial by visiting the “Settings & Account” section. Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. Standard Digital includes access to a wealth of global news, analysis and expert opinion. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages.
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