Joe Nocera, Columnist

Don't Blame Jeff Immelt for GE's Stock Woes

Under Jack Welch, investors treated the company as if it could grow like an internet darling. It couldn't.

April 2, 2018 at 9:00 AM UTC

Joe Nocera is a former Bloomberg Opinion columnist. He has written business columns for Esquire, GQ and the New York Times, and is the former editorial director of Fortune. He is the host and writer of the Bloomberg-Wondery podcast "The Shrink Next Door."

Not his fault.
Photographer: Olivier Douliery-Pool/Getty Images

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"The one thing I will fight to my death, this will not be laid on Jack Welch." Former GE board member Ken Langone, to CNBC

Retirement has not been kind to former General Electric Chief Executive Jeff Immelt. Ever since his successor, John Flannery, took over this storied but troubled conglomerate last August, vowing to fix what ails it, observers have rushed to lay the blame for GE's problems at Immelt's feet.