A 'neutron' force in the business world: Remembering Jack Welch

The longtime chairman and chief executive officer of General Electric turned his company into one of the world's largest and most admired while seeding Corporate America with leaders trained under his watch. His relentless style -- emphasizing growth, efficiency and always hitting your numbers -- was widely imitated.

Welch, who died Sunday at age 84, earned the nickname "Neutron Jack" for his willingness to sell assets and fire employees without sympathy. The moniker became a point of pride among his admirers, though Welch himself hated it.

The longtime boss of GE leaves behind a complicated legacy. Despite all the accolades he won during his two decades atop the company, his star fell in retirement as his past decisions caught up with the company. GE struggled in recent years in part due to questionable accounting practices and a reliance on volatile finance businesses -- both legacies of Welch.

Bloomberg News asked his former proteges and other prominent executives who knew Welch to weigh in on his legacy and personality.

— Larry Culp, CEO of GE: "Today is a sad day for the entire GE family. Jack was larger than life and the heart of GE for half a century. He reshaped the face of our company and the business world. Jack was a strong and constant influence throughout my career despite never having worked directly for him.

"When I last saw him, what I remember most vividly was when he asked me, 'So how exactly are you running the company?' Jack was still in it -- committed to GE's success. And to have Jack Welch ask me how I am running GE is pretty humbling."

— Jamie Dimon, CEO of JPMorgan Chase: "Jack was an exceptional man and an outstanding leader who had such enormous impact on the role of business in our country. With indefatigable spirit and sound judgment, he led GE through good times and difficult times. And all the while, he stood tall and always did the right thing for his company and his country.

"Personally, I always admired him as a mentor, as a friend, and even as a fatherly figure. He really set the standard as a CEO, not just in his performance running the company and as a legendary leader, but in his deep integrity, big heart and strategic vision."

— Jeffrey Immelt, former CEO of GE (2001-2017): "From the first day I joined GE, I felt like I worked for Jack Welch, and that was all right by me. He was a brilliant, aspirational leader. Jack was always direct, but his frankness was appealing and effective. His informality and accessibility made GE a team -- we all loved working for him because he wanted the people around him to succeed. Jack was the best boss I have ever seen. God bless him and his family."

— Dave Cote, former CEO of Honeywell: "Jack Welch was a force of nature. He had a powerful effect on my career and life and that of many others."

— John Flannery, former CEO of GE (2017-2018): "Jack was always about forward momentum and playing through adversity. I was fortunate enough to have a three and-a-half-hour lunch with him over Labor Day weekend in 2019 -- and he was curious to hear about my new activities. He was characteristically optimistic -- encouraging me to look to the future and keep going. And, of course, some of his language choice had a certain 'inspirational color.' Those of you who knew Jack can easily picture this conversation.

"On this sad day, we remember and salute not just the greatest CEO of all time -- but one of the greatest people you could ever be lucky enough to know."

— Jeffrey Sonnenfeld, business professor, Yale School of Management: "I knew Jack Welch personally for 40 years, having brought him to my MBA classes, taught for him at GE, visited with him at his office, and shared many meals over the decades. Jack was brilliant, with historic contributions to global commerce, and also imperfect, and like all of us, he had his flaws.

"But the business world is changed and better because of him. He was, without doubt, an icon of industrial imagination. While we should not deify him -- like Thomas Edison and Steve Jobs, he was highly effective in his self-promotion -- he was a unique titan of industry."