REVERED leaders usually have to die before they have a monument dedicated to them. They have to retire, at least.
Not so, the great Jack Welch.
Late last year, the General Electric CEO was present at the unveiling of the John F. Welch Technology Centre in Bangalore, India. The new facility will offer research and development covering a wide variety of business areas.
Welch has received accolades aplenty for his leadership of GE. And he undoubtedly deserves them. During the 20 years of his stewardship, GE’s sales have increased from $25 billion to $111 billion, its earnings have grown from $1.4 billion to $11 billion, and its market capitalization has surged from $25 billion from $487 billion.
Even so, it seems a sign of Welch’s tremendous cult of personality that the company did not even wait until the end of this year when he will retire to name a building after him.
Asked whether this was not a slightly unusual move, a GE spokesman seemed confused. “I can’t speak for what other companies do,” he said, implying that for GE, celebrating Jack Welch is business as usual.