Jeffrey Immelt started his tenure as General Electric's CEO in what would be called the "Decade from Hell". International monetary catastrophe in 2008 began with an economic depression due to the 9/11 terrorist attacks and in 2001 was by it After missing its quarterly earnings forecast in 2009 GE's stock price fell 13% in a single day. On the heels of that hammering, Standard & Poor's relegated the AAA credit rating of GE. Despite Jeffrey Immelt's efforts, the share price reached its all time low of $6.66 on March 5, 2009. 2010, GE's market capitalization cut in half to $200 billion.
He focused efforts on innovation in energy and health care that became known as healthymagination and ecomagination initiatives. While healthymagination focused on providing solutions for the health care industry, Ecomagination sought innovative solutions to ecological challenge. By the year 2010, the efforts from these proposals had reinstated some of GE's market capitalization, but were far from the innovative $400 billion that he had inherited as the CEO. Was Immelt's tactical plan enough to take the company back to its former glory? And, would investors have the patience o this course?
PUBLICATION DATE: January 06, 2012 PRODUCT #: MH0010-HCB-ENG
This is just an excerpt. This case is about STRATEGY & EXECUTION
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