GE rethinks 20-year CEO concept


General Electric (GE) CEO Jeff Immelt might give up his CEO position earlier than anticipated, according to The Wall Street Journal.

Immelt is slated to complete his 20-year run at General Electric (GE) in 2021.

Directors at GE are reportedly rethinking the concept of a 20-year run for a CEO.

The talk is likely to lead to increased speculation on who the company will tap to replace Immelt. Lorenzo Simonelli, head of GE's oil and gas unit, and Steve Bolze, who directs the power and water business, are two of the leading contenders.

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Comments (22)
  • IndioBravo
    , contributor
    Comments (141) | Send Message
     
    Anyone but Jack Welsh, is ok to me.
    15 Apr 2014, 06:42 AM Reply Like
  • Preferred Research
    , contributor
    Comments (807) | Send Message
     
    Agree. All Welch did was build up a financial monster and select the right successor. Immelt is a very talented CEO.
    15 Apr 2014, 10:25 AM Reply Like
  • quickresponse
    , contributor
    Comments (40) | Send Message
     
    GE’s fundamentals are very strong. However, JI has been driving GE with his foot on the break. It is well understood that by replacing JI with a competent CEO who is familiar with GE, such as David Cote, GE shares would immediately jump by $10.
    15 Apr 2014, 04:57 PM Reply Like
  • wizwor
    , contributor
    Comments (165) | Send Message
     
    I'd love to see Jim McNerny return. He was my guy in the succession horse race. I always thought he understood General Electric Company better than the other two -- probably better than Neutron Jack. His relationship with Boeing can't be bad for the Aviation business.
    15 Apr 2014, 06:51 AM Reply Like
  • limed
    , contributor
    Comments (74) | Send Message
     
    Anyone but Immelt. As a GE retiree he destroyed my retirement. Although he is trying to give back to shareholders, he doesn't have enough time to restore the damage done. I echo McnNerny. What a difference my life would be had Welch selected him. Even Nardelli wouldn't have done as bad as Immelt.
    15 Apr 2014, 07:40 AM Reply Like
  • jaymarcellus
    , contributor
    Comments (5) | Send Message
     
    I have to think that no CEO could have done better during two really bad recessions than JI.
    15 Apr 2014, 08:06 AM Reply Like
  • limed
    , contributor
    Comments (74) | Send Message
     
    I could name at least 250 CEO's that could have done better!
    15 Apr 2014, 08:17 AM Reply Like
  • positivethoughts
    , contributor
    Comments (2065) | Send Message
     
    Are you smoking marijuana?
    15 Apr 2014, 09:41 AM Reply Like
  • IndioBravo
    , contributor
    Comments (141) | Send Message
     
    limed:
    Don't be shy, then.
    15 Apr 2014, 07:25 PM Reply Like
  • 1980XLS
    , contributor
    Comments (3360) | Send Message
     
    Marijuana?

     

    If you bought GE at 2008 peak you are almost back to even after 6 years.

     

    If you bought UTX at the peak in 2008, you have doubled your money in the exact same time period.

     

    Shareholders may not have made a dime in 6 years, but you can sure bet Jeffrey did!

     

    Just as with our president, somehow we embrace mediocrity now.

     

    Everybody deserves a medal now.
    15 Apr 2014, 07:40 PM Reply Like
  • positivethoughts
    , contributor
    Comments (2065) | Send Message
     
    My comment was directed toward jaymarcellus.
    15 Apr 2014, 09:09 PM Reply Like
  • taplinger
    , contributor
    Comments (341) | Send Message
     
    Don't know how mediocre our president is, DOW 7,600 to record highs under his watch? Bush record highs to 7,600? How do you define mediocrity? I will never in my lifetime figure out why the financial community votes Republican when Democratic presidents consistently outperform them. Maybe reality doesn't fit in to your thinking.
    15 Apr 2014, 10:30 PM Reply Like
  • 1980XLS
    , contributor
    Comments (3360) | Send Message
     
    Immelt?

     

    Just do a long term stock chart on UTX vs GE

     

    Immelt is a disaster.
    15 Apr 2014, 08:47 AM Reply Like
  • rubel
    , contributor
    Comments (618) | Send Message
     
    shareholders right now could remove him by voting against him with your proxy statement, also vote against his pay package.
    15 Apr 2014, 08:48 AM Reply Like
  • Miguel Costa
    , contributor
    Comments (42) | Send Message
     
    There are so many things shareholders should be doing right now...current Corporate Governance and shareholders rights remain far too distant and GE is no exception...
    15 Apr 2014, 11:18 AM Reply Like
  • Mike Slattery
    , contributor
    Comments (804) | Send Message
     
    To rubel -

     

    Your statement "shareholders right now could remove him by voting...." is not fully correct. Yes, he could be removed from his position on the Board of Directors (BOD) by shareholder voting but this article is about Immelt's position as CEO.

     

    Clearly, the CEO position (and who fills it) is not subject to any voting by shareholders.

     

    For full disclosure, I am long GE and think Immelt in the last 5 years has done an excellent job. I hope he stays for 3 more until industrial earnings get to the 70% goal that he has set for the company.....and I think they will.
    15 Apr 2014, 11:33 AM Reply Like
  • U2A Ventures
    , contributor
    Comments (344) | Send Message
     
    I think Immelt in recent times has done well (12-24mo), beyond that I think market factors played a role in his actions and decisions and at times his hands were tied with what GE could do and achieve. I am LONG GE in an IRA and think its a forever stock.
    15 Apr 2014, 01:45 PM Reply Like
  • LONGTERM RICHARD
    , contributor
    Comments (50) | Send Message
     
    Investors in GE should be very thankful for Jeffrey Immelt's leadership. I've followed the company closely and have been a shareowner, on and off, for over 6o years.Yes, Jack Welch turned the company into a financial machine and the stock soared with two 2:1 splits followed by a 3:1 split and a farewell price of $60. Enter Jeffery Immelt , 9 / 11, the tech crash and the Financial/Mortgage/Bank gridlock of 2008.These years were scramble time for everyone and GE sunk to $5+. Since 2008 the company has been reshaped: more emphasis on core manufacturing.energy and medical diagnostic products.I've been a steady and happy buyer since 2008 and look to enjoy the future growth years ahead.
    15 Apr 2014, 04:56 PM Reply Like
  • TAS
    , contributor
    Comments (3886) | Send Message
     
    Twenty years.

     

    Let Immelt go early, on parole. He can be Obama's social secretary and official lapdog.
    15 Apr 2014, 11:08 PM Reply Like
  • 1GreatCFA
    , contributor
    Comments (1355) | Send Message
     
    I like this stock. You need patience but this is your classic INVESTMENT...can't day trade this one.
    15 Apr 2014, 11:17 PM Reply Like
  • mr clark
    , contributor
    Comments (727) | Send Message
     
    GE will be BK in 10 years
    16 Apr 2014, 12:15 AM Reply Like
  • bberuch
    , contributor
    Comments (314) | Send Message
     
    I cant get excited about Mr Immelt's reign. It has comeback a part of the way
    16 Apr 2014, 07:02 AM Reply Like
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