BOSTON, MASSACHUSETTS - John F. Welch, Jr., a legendary businessman and a former GE Chairman and CEO passed away on March 1, 2020.

GE Chairman and CEO H. Lawrence Culp, Jr. has issued the following statement:

"Today is a sad day for the entire GE family. Jack was larger than life and the heart of GE for half a century. 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. 

When I last saw him, what I remember most vividly was when he asked me, 'So how exactly are you running the company?' Jack was still in it - committed to GE's success. And to have Jack Welch ask me how I am running GE is pretty humbling. 

He will be deeply missed by me and the entire GE team. And we'll continue to honor his legacy by doing exactly what Jack would want us to do: win. 

We extend our thoughts and sympathies to Suzy and his family during this time."

In 2004, Jack Welch was named the "Manager of the Century" by Fortune magazine, after GE had been recognized as the "World's Most Respected Company" for three straight years by The Financial Times.

Source: GE