Jack Welch

GE: #1 or #2 in every market, Six Sigma, Neutron Jack portfolio surgery

Jack Welch served as Chairman and CEO of General Electric from 1981 to 2001, growing its market capitalisation from roughly $14 billion to over $400 billion. He institutionalised the '#1 or #2' competitive rule, aggressive portfolio pruning (earning the nickname 'Neutron Jack'), a forced-ranking vitality curve that culled the bottom 10% of performers annually, and a company-wide Six Sigma quality programme. His memoir 'Jack: Straight from the Gut' codified his management philosophy and shaped a generation of corporate strategists.