The ‘game has changed’ and GE CEO Jeffrey Immelt is adapting the company to meet those changes, said Jack Welch, author of ‘The Real-Life MBA’ and the former CEO of the Dow component. Welch added that Immelt’s tenure has been challenging because he was forced to navigate the conglomerate through the 9/11 tragedy, as well as the financial crisis. Welch called Immelt’s decision to slim down GE’s financial division ‘gutsy,’ adding that Immelt is pocketing premium prices for those assets. Welch also said excessive regulations are hurting the profitability of GE Capital, so it’s a good time to exit that area. In terms of political leadership, Welch said he is intrigued by Ted Cruz, while he does not know Hillary Clinton’s leadership skills well enough to assess them.
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