Immelt was always a horse’s ass. He was the Roger Goodell of multinationals.
Cut Immelt some slack. Anyone who rides around in a private jet needs a second backup jet following it around 'just in case'. Just because the guy was an incompetent fool is no reason to call him names.
If they had back the money they spent on him and his toadies, the balance sheet would probably look OK. But he is in the class of leaders that get themselves rich while screwing the shareholders. And the workers.
Jack Welch left Immelt a losing hand. I saw first hand why GE under Welch mostly concentrated on product lines with exorbitant profit margins. Those covered up GE management’s incompetency. Once the margin’s evaporated, GE was screwed.