Jack Welch, the former president and CEO of General Electric, who was known as the "manager of the century", passed away on March 2, 2020. Lawrence Culp, the global president and CEO of GE, immediately announced Welch’s death. In the announcement, he said that, “He reshaped the face of our company and the business world. Jack was a strong and constant influence throughout my career despite never having worked directly for him.”

As Culp said, Welch reshaped the business world. He is an influential master of management, as well as an example for other managers. He is widely known in the business world as one of the most distinguished managers and world's greatest CEO. In 1960, Welch joined the new chemical development division of General Electric. In 1981, Welch, who was only 45 at the time, became the youngest president and CEO in the history of General Electric. During the 20 years he ran General Electric, the company led the market. Its market value rose from 13 billion dollars to more than 400 billion dollars. It was also at the top of Fortune’s list of “most admired companies in the United States” for 3 consecutive years. His “Six Sigma” standard, globalization and e-business almost redefined the concept of modern enterprise.