Believe Immelt was a Welch protege. He’s been Chairman since 2001.
Stock has rangened from $49.95 to $8.51 today it’s at $15.83. He did cut the dividend in half and is sitting on a lot of cash almost $74B.
Well...Immelt fancies himself a Jack Welch syle CEO because he was there when Welch was, but Immelt is no Jack Welch.
Perhaps Mr. Immelt could use some of that cash to pay off the $600 Billion or so in company debt, of which, what, $225 Billion or so is short term or current?
Yes, Jack endorsed him to the Board over 2 other guys and then they were both “retired” early.