General Electric Co. Chief Executive Officer Jeffrey Immelt

General Electric Co. Chief Executive Officer Jeffrey Immelt

Scott Eells/Bloomberg

General Electric Co. Chief Executive Officer Jeffrey Immelt, who engineered the strategic shift, plowed $1 billion into new appliance offerings and factories in the U.S., in a bid to make such products stand out and reap higher profits against competitors from Korea’s Samsung Electronics to China’s Haier Electronics Group.