Jeff Immelt
- January 11, 2024
- American Executive
Quick Facts
| Full Name | Jeff Immelt |
| Date Of Birth | Feb 19, 1956(1956-02-19) |
| Age | 68 |
| Birthplace | Cincinnati |
| Country | United States |
| Birth City | Ohio |
| Horoscope | Aquarius |
Jeff Immelt Biography
| Birthday | Feb 19 |
| Birth Year | 1956 |
Jeff Immelt is one of the most popular and richest American executive who was born on February 19, 1956 in Cincinnati, Ohio, United States. Jeffrey Robert Immelt (born February 19, 1956) is an American business executive currently working as a venture partner at New Enterprise Associates. He stepped down as CEO of the U.S.-based conglomerate General Electric (GE) on August 1, 2017 and retired from his position as chairman of the board of GE on October 2, 2017. He was selected as GE’s CEO by their board of directors in 2000 to replace Jack Welch upon Welch’s retirement from GE. Previously, Immelt had headed up GE’s Medical Systems division (now known as GE Healthcare) as its president and CEO.
After becoming chairman of GE, Immelt delivered his first university address to the 2001 graduating class of the Thayer School of Engineering at Dartmouth College, of which he is an alumnus, as their Investiture Speaker. He gave the college commencement address and received an honorary Doctor of Laws from Dartmouth, in June 2004.
Immelt defended GE’s reporting elections and the quality of its financial statements following heightened scrutiny after the Enron crisis. In 2001, his first year end as CEO, Immelt famously offered the market and the SEC a choice in financial reports, a new dramatically expanded set of reports with more details, versus what had been the traditional format for GE’s SEC filings. The experiment seemed to confirm that the traditional format, which was shorter, was preferable and it continues to be used at GE today. Immelt’s intuition and judgments about financial reporting transparency were validated in experiments in behavioral economics conducted at Princeton in 2004. Immelt has led GE through two reporting challenges since then: it has been required to restate its SEC filings; and, in 2009 GE agreed to pay the SEC $50 million to settle allegations of accounting fraud.
His tenure as chairman and CEO started off on a low note, as he took over the role on September 7, 2001, just four days before the terrorist attacks on the United States, which killed two employees and cost GE’s insurance business $600 million, as well as having a direct effect on the company’s Aircraft Engines sector.
Immelt earned his M.B.A. from Harvard Business School, graduating in 1982. He described business school as “one of the most intense times of your life.”
Jeff Immelt Net Worth
| Net Worth | $5 Million |
| Source Of Income | American executive |
| House | Living in own house. |
Jeff Immelt is one of the richest American executive from United States. According to our analysis, Wikipedia, Forbes & Business Insider, Jeff Immelt 's net worth $5 Million. (Last Update: December 11, 2023)
Immelt attended Finneytown High School; he played football in college and was an offensive tackle. He earned an A.B. in Applied Mathematics and Economics cum laude from Dartmouth College graduating with the class of 1978; he was president of his fraternity, Phi Delta Alpha, and currently serves on the Dartmouth board of trustees.
Immelt had been with GE since 1982, when he graduated from Harvard with a Master of Business Administration degree. He held a number of increasingly senior positions in GE’s plastics, appliances, and healthcare businesses. He became a GE officer in 1989, joined the GE Capital board in 1997 and took on the leadership of GE Healthcare before being named CEO.
At the end of 2001 when Immelt replaced Welch, GE employed 219,000 worldwide and 125,000 in the US, as reported in its SEC Form 10K for 2001. GE’s SEC Form 10K for 2014 states that worldwide employment is 305,000, and US employment is 136,000. These employment levels have varied significantly under Immelt.
Height, Weight & Body Measurements
| Height | 1.93 m |
Jeff Immelt height 1.93 m Jeff weight Not Known & body measurements will update soon.
Who is Jeff Immelt Dating?
According to our records, Jeff Immelt married to Andrea Immelt. As of December 1, 2023, Jeff Immelt’s is not dating anyone.
Relationships Record : We have no records of past relationships for Jeff Immelt. You may help us to build the dating records for Jeff Immelt!
Barron’s has named Immelt one of the “World’s Best CEOs” three times. He is a member of The American Academy of Arts & Sciences. The Financial Times named him “Man of the Year” in 2003. Immelt was named to Time magazine’s 100 most influential people in the world in 2009.
Facts & Trivia
Jeff Ranked on the list of most popular American executive. Also ranked in the elit list of famous people born in United States. Jeff Immelt celebrates birthday on February 19 of every year.
Immelt served as chairman of The Business Council, a nonpartisan organization, in 2005 and 2006. It is notable that two other GE CEOs, Reginald Jones and Jack Welch, also served in this capacity.
Was Jeff Immelt a good CEO?
Immelt succeeded Jack Welch, who was largely considered to be one of the best CEOs in the history of business. He had led GE through two decades of extraordinary corporate prosperity, so when he named Immelt as his successor, the pressure to perform was immense. Even though Welch was no longer CEO, his legacy loomed.
Who Ruined General Electric?
Immelt was dealt an impossible hand. He followed the two-decade reign of Jack Welch , during which G.E. became the most valuable company in the world. His second day on the job was Sept. 11, 2001, and fallout from the terrorist attacks left several of G.E.’s major business lines battered.
When did Immelt leave GE?
Jeff Immelt admits his 16-year run as CEO at General Electric was at best “controversial” after he left the storied company in 2017 drowning in debt with a crumbling stock value. But instead of taking his more than $200 million in retirement pay and laying low, Immelt wrote a book.
How much did Jeff Immelt make?
When Jeff Immelt was pushed out as CEO of General Electric in 2017, he didn’t leave empty handed. If fact, he earned over $200 million in retirement pay on top of 35 years of big salaries plus bonuses, which amounted to $33 million in 2015 and $21.3 million in 2016 , for instance.
Why is General Electric failing?
In 2018, GE—the last original component of the DJIA—was dropped from the index, after years of poor performance and declining revenues. In 2021, the conglomerate announced plans to split into three independent companies specializing in aircraft engines, medical equipment, and power turbines.