Jeff Immelt Oversaw the Downfall of G.E. Now He’d Like You to Read His Book. – The New York Times

Jeff Immelt’s leadership at GE had disastrous results for investors. He says all of his retirement was in GE stock, but the fact that he was paid $200 million probably eased the pain. In that context, take a look at this exchange:

Do you feel like there’s a fundamental misalignment between compensation in this economy, when the outcomes for the people in factories and executives are just worlds and worlds apart?

I’m a little bit of a bad messenger, because our stock didn’t work. I worked 24 hours a day, seven days a week. And I was going to do that whether you paid me $5 million or $10 million. But I do think there’s a misalignment. I do think that that’s one of the reasons why business isn’t as trusted as it should be.

Jeff Immelt Oversaw the Downfall of G.E. Now He’d Like You to Read His Book. – The New York Times

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