View from the corporate netherworld

Book review of Hot Seat: Hard-won Lessons in Challenging Time

In September 2001, Jeff Immelt stepped into the role of CEO of General Electric, replacing Jack Welch who is generally considered the best CEO in the corporation’s history.  If that task wasn’t daunting enough then soon after, GE would be plunged into an unprecedented crisis with the terrorist attacks of 9/11 on American soil. Two of GE’s employees would lose their lives and GE’s insurance and aircraft engines business would be directly impacted.  By the end of his first week as CEO, GE’s shares had dropped 20 per cent, wiping out $80 billion in market cap.  Around this time, Mr