Wednesday, March 01, 2000
GE chairman showing no favorites
BY MIKE BOYER
The Cincinnati Enquirer
Don't read any succession significance into GE Chairman Jack Welch sharing the podium with GE Aircraft Engines President W. James McNerney Jr. at Tuesday's launch announcement of the GE90-powered long-range Boeing 777-200/-300.
As head of GE's largest business outside GE Capital, it only makes sense that Mr. McNerney would participate, said Russell Leavitt, analyst with Banc America Securities.
“I would have been surprised if he had not been there,” Mr. Leavitt said.
Mr. McNerney and Finneytown native Jeffrey Immelt, head of GE's Medical Systems business, are seen as leading candidates to succeed Mr. Welch, who plans to retire next year.
Shortly after the Boeing-GE announcement in New York City's Rockefeller Center, Mr. Welch attended a second news conference with Mr. Immelt, where they introduced two new digital X-ray machines that make it easier to detect breast cancer and heart disease.
“Jack seems to plan for every eventuality,” Mr. Leavitt said of Mr. Welch's scheduling news conferences with both possible successors.
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