Ex-director Ken Langone: GE’s ‘destruction’ happened after Jack Welch and it could now be ‘busted up’

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CNBC

  • The downfall at General Electric has been a “colossal failure” in board leadership, says Ken Langone, former GE director and also co-founder of Home Depot.
  • “The one thing I will fight to my death, this will not be laid on Jack Welch,” he adds.
  • Langone’s effusive praise of Welch as “CEO of the century” contrasted his veiled criticism of Welch’s successor, Jeff Immelt.

The recent implosion of General Electric should not be blamed on Jack Welch, the hard-driving former CEO who had built the conglomerate into a global powerhouse over 20 years, said former GE director Ken Langone.

Langone, billionaire co-founder of Home Depot, told CNBC on Wednesday that the downfall at GE has been a “colossal failure” in board leadership. Langone was on the GE board from 1999 to 2005.

“The one thing I will fight to my death, this will not be laid on…

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