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| Chairman
of the Board and Chief Executive Officer
of GE |
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General
Electric (GE) is a group indulging in multifarious
activities, ranging from financial and technological
to manufacturing services, with operations
in more than 100 countries. From light bulbs
to aircraft engines, GE is one of the 10
largest global industrial firms with the
highest market value in the US. General
Electric traces its roots to Thomas Edison,
who was the founder of Edison Electric Light
Company in 1878. This company followed the
establishment of the laboratory in Menlo
Park, New Jersey, from where had emerged
the greatest invention of all- a successful
incandescent electric lamp. By 1890, Edison
had organized his various concerns into
the Edison Electric Company. The Thomson-Houston
Company and the various companies that had
merged to form it were led by Charles A.
Coffin, a former shoe manufacturer from
Lynn, Massachusetts. In 1892, these two
major companies were merged to form the
General Electric Company. Initially, GE
focused on the production of incandescent
lamps. During the next twenty years, the
company produced X-ray equipments and turbine
generators. In 1921, GE made considerable
changes to the vacuum tube, which brought
about an era of modern electronics and radio
communications. By 1920s, the company was
engaged in producing power systems for planes,
trains and automobiles. GE produced the
first television network in 1940 when its
TV station WRGB became the first to transmit
television broadcasts from New York City.
Over the next few years, GE diversified
its activities into nuclear reactors, space
vehicles, medical systems, fiber optics,
insurance and other arenas. Several of Edison's
initial business offerings are a part of
GE today. These include lighting, transportation,
power transmission, industrial products
and medical equipments. Today GE's products
and services range over to so many countries,
that the company has created as many as
11 separate divisions to manage them all:
Advanced Materials, Commercial Finance,
Consumer Finance, Consumer & Industrial,
Energy, Equipment Services, Healthcare,
Infrastructure, Insurance, Transportation
and NBC Universal. GE leaders, over the
years have created a diverse group of leading
businesses, powerful Company-wide initiatives,
financial strength and a set of common values
that allow benefiting from opportunities
through various phases. Jeffery R. Immelt,
48, is the Chairman of the Board and Chief
Executive Officer of GE. Immelt, who was
appointed to this post on September 7, 2001,
is the ninth CEO of GE in its 126-year history.
Prior to occupying this coveted post, he
served as President and Chairman-elect of
GE from November 2000. From 1997 to 2000,
he had been President and CEO of GE Medical
Systems, which is today a $12 billion leader
in the healthcare industry. Beginning his
GE career in 1982, over the last 22 years,
Immelt has led the GE's Plastics, Appliance
and Medical businesses globally. In 1989,
he became the Officer of GE, and joined
the GE Capital Board in 1997. He is also
a member of two non-profit organizations,
namely, Catalyst, devoted to advancing women
in business; and Robin Hood, focused on
addressing poverty issues in New York City.
Immelt holds a B. A. degree in applied mathematics
from Dartmouth College and an MBA from Harvard
University, in 1982. GE, under his headship
has continued to achieve high rating in
all spheres of its activities. On a recently
conducted survey, GE was rated as number
one for integrity and corporate governance
and number three in the world for corporate
social responsibility. It was ranked first
for achieving shareholder value by the fund
managers, and received high marks from the
media. From "We Bring Good Things to
Life" to "Progress is Our Most
Important Product" and "Live Better
Electrically", GE has a rich tradition
of continuous progress. From jet engines
to power generation, plastics to financial
services, and medical imaging to news and
information, the GE community all over is
dedicated to transform imagination into
primary products and services that would
solve some of the world's toughest problems.
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