These strategies received a lot of costive and negative attention and as a result the company’s value increased by 4,000% during his tenure at GE. Jack Welch was born John Francis Welch, Jar. On November 19, 1935. He earned a Bachelor of Science degree in chemical engineering from the University of Massachusetts in 1957. Then he went on to earn a M. S. And Ph. D. In chemical engineering from the University of Illinois in 1960. He was introduced to Carolyn Osborn through a mutual friend, and then approximately six months later they were engaged.
By November, 1959 they married two days after Wheel’s 24th birthday. In 1 960, Dry. Dan Fox offered Welch a chemical engineering position to work on a new project on a new thermoplastic called polypropylene oxide (POP) at GE. POP was described to withstand high temperatures, which could replace hot water copper piping and stainless-steel medical instruments. Welch realized after his first year at GE that he disliked Gee’s bureaucracy, which nearly drove him to leave based on the standard predetermined $1 raise he received in 1961. He was fed up and walked up to his boss Burt Coplay and quit.
Copula’s boss, Reuben Cutoff (Erg) called Welch and offered to meet for dinner. Cutoff took Carolyn and Jack out for dinner and promised a bigger raise, more responsibility, and would keep the bureaucracy out of his way. In addition, Cutoff added another $2,000 raise on top of the $1 raise Coplay already given him, which showed Welch he was serious about his promise. In 1 972, Jack was named the company s youngest Vice President then was elected Vice Chairman in 1 979, then was elected the eighth chairman and Chief Executive Officer (CEO) in 1981.
Jack held this position until he retired in 2001. During his twenty year term as CEO Jacks reputation In 1999, Forbes magazine named him “Manager of the Century” and the Financial Times named him one of the three most admired business leaders in the world today (General Electric Company). During Jacks twenty year tenure at GE he was able to step outside of the box and change the way the game was played. (Business Pundit, 2008).