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Brooke Sutherland

Jeff Immelt Takes the Fall

But his successor will have to finish what the departing CEO started.
Goh Seng Chong/Bloomberg

Jeff Immelt, the embattled CEO of General Electric Co., is doing the right thing by moving on. It's now up to his successor to finish what he started.

GE announced on Monday that Immelt would end his 16-year tenure as CEO in August and hand over the job to the company's head of health care, John Flannery. The timing is a bit surprising, given that just weeks ago Immelt was defiantly touting his accomplishments and seemed to fault investors for failing to appreciate how much simpler and digitally-oriented the company had become under his leadership. Then again, his testiness probably didn't do him any favors with investors.