Jack Welch Fast Facts

Posted at 12:51 PM, Nov 29, 2018
and last updated 2018-11-29 14:51:57-05

Here is a look at the life of Jack Welch, former CEO of General Electric.

Birth date: November 19, 1935

Birth place: Peabody, Massachusetts

Birth name: John Francis Welch Jr.

Father: John Francis Welch Sr., a train conductor

Mother: Grace (Andrews) Welch

Marriages: Suzy Wetlaufer, journalist (April 24, 2004-present); Jane Beasley, corporate lawyer (1989-2002, divorced); Carolyn Osburn (1959-1987, divorced)

Children: with Carolyn Osburn: Katherine, John, Anne and Mark

Education: University of Massachusetts, 1957, B.S. Chemical Engineering; University of Illinois, 1960, M.S., Ph.D. Chemical Engineering

Other Facts:
Head of Jack Welch, LLC, established in 2007.

Media had given him the nickname “Neutron Jack” for his no-nonsense approach to business.

Wrote a weekly column in Business Week with his wife Suzy called “The Welch Way.”

1960 Begins career at GE in the Chemical Development Organization as a chemical engineer.

1972 He is appointed general manager of the worldwide plastics division and becomes a vice president.

1979 Vice Chairman and Executive Officer.

1981He is appointed Chairman and CEO, the youngest CEO that General Electric Corporation (GE) has ever had.

1999Fortune magazine names Welch “Manager of the Century.”

September 2001 – Steps down as GE chairman and CEO and is replaced by Jeffrey Immelt.

July 3, 2003Announcement is made that his ex-wife Jane Beasley Welch will receive an undisclosed lump sum divorce settlement.

April 13, 2007Makes a failed attempt, with other investors, to buy the Boston Globe from New York Times Co.

June 21, 2009Pays more than $2 million for 12% stake in Chancellor University System LLC which delivers online education. The MBA program will become the Jack Welch Management Institute.

July 5, 2009Is hospitalized and later released after suffering a bacterial infection.

November 2011Sells the Jack Welch Management Institute to Strayer University for $7 million. The sale is a 70-30 split with Chancellor University; Welch gets the 70%.

October 9, 2012 – Welch and wife Suzy resign as Fortune magazine and Reuters contributors after his controversial tweet regarding the Obama administration and September unemployment data was criticized by Fortune.

April 4, 2015 – Harper Collins releases “The Real-Life MBA,” the new book written by Welch and his wife Suzy.

December 2, 2016 – Welch is named to President-elect Donald Trump’s newly formed President’s Strategic and Policy Forum. The group will provide insight and opinions about jobs and the economy.