Skip to main content

Jeff Immelt Can’t Bear To Watch What’s Gonna Happen To His Beloved G.E.

Even if he can’t be Uber CEO, he doesn’t have to be G.E.’s chairman for one minute longer.
  • Author:
  • Updated:
By WRI Staff [CC BY 2.0], via Wikimedia Commons

By WRI Staff [CC BY 2.0], via Wikimedia Commons

A couple of months ago, General Electric chairman and CEO Jeff Immelt decided that 16 years at the helm was enough, making Nelson Peltz very happy and Warren Buffett less so. For the sake of putting up some pretense of continuity and pretending that Peltz hadn’t violently shoved him through the doors, Immelt would stick around as chairman for a few months until handing that job off to new CEO John Flannery, as well.

Well, Flannery’s not waiting for his coronation to start undoing some of Immelt’s life work, slashing costs and putting the brakes on GE’s new headquarters campus in Boston. As such, it occurs to Immelt that perhaps Flannery doesn’t need his help anymore.

The company said Mr. Immelt had determined the CEO transition was proceeding smoothly and that Mr. Flannery was ready to take over as chairman, according to a regulatory filing made Monday. The filing says the board concurred….

Mr. Immelt decided to step down sooner than expected to give Mr. Flannery full control as he prepares to make some difficult changes at the company, said people familiar with the matter. The move also frees Mr. Immelt to pursue other opportunities, they added.

To that end, he’s also decided to stop chairing board meetings at Baker Hughes after just a few months at the oil company he merged GE’s petroleum business into. Clean slate. Sure, Uber didn’t come calling. But Jeff’s taking calls, people. Don’t you worry about that. (Hey, Warren, got any boards I can sit on? Mr. President? I am available once Gary or Rex move on.)

Jeff Immelt Steps Aside as GE Chairman, Months Ahead of Schedule [WSJ]



John Flannery Starting To Quantify Disastrousness Of Jeff Immelt

The new GE CEO has crunched the last couple of years’ numbers and they look quite different from the old CEO’s numbers.

By WRI Staff [CC BY 2.0], via Wikimedia Commons

Jeff Immelt Was John Flannery Before John Flannery Was John Flannery

And that means Jack Welch was Jeff Immelt before Jeff Immelt was Jeff Immelt.


New CEO of GE Thinks GE Is A Real POS

Looking at it now, John Flannery can't believe he even took this terrible gig.

Getty Images

Warren Buffett Hates Hedge Fund Activism More Than He Loves GE

He won’t have anything to do with a company that listens to the likes of Nelson Peltz.

By Eddie Maloney from North Las Vegas, USA (VP-BEN) [CC BY-SA 2.0], via Wikimedia Commons

Empty GE Airplane Did Not Follow Jeff Immelt Out Of Puppy-Like Dedication And Autonomously-Developed AI

We’re disappointed, too. But not as disappointed as Immelt or the people who simply signed off on the ridiculous system.