Jack Welch

He married for the second time in 1989. His second wife, Jane Beasley, was a lawyer. This marriage too ended in a divorce in 2003 after his wife found about his affair with Suzy Wetlaufer whom he would eventually marry.

He married Suzy in 2004 and is currently married to her.

He was born on 19 November 1935 in Massachusetts to John Welch and his wife, Grace. His father worked as a Boston & Maine Railroad conductor while his mother managed the home. He was the only child of his parents.

He displayed business acumen from a young age and worked during the summers as a newspaper boy, shoe salesman and golf caddy while he was still a school student.

He attended Salem High School and was a talented athlete. He loved playing sports like baseball, football and hockey and was consumed by a great drive to win.

He went to the University of Massachusetts from where he graduated with a Bachelor of Science degree in chemical engineering in 1957.

He then enrolled at the University of Illinois from where he earned a Master’s degree and a PhD in chemical engineering in 1960.

He joined General Electric in 1960 as a junior chemical engineer in the plastics division. He worked diligently for a year and was hoping for a big raise. When he got a raise of less than what he had expected, he was disappointed and planned to quit.

He was persuaded to stay by an executive, Reuben Gutoff, and reluctantly agreed. An incident that happened in 1963 almost cost him the job. There was an explosion at a factory building under his management and he was almost fired for this.

He continued working for GE and was made the vice president and head of GE’s entire plastics division in 1968, just eight years after he had joined the company in a junior position.

The plastics division, at that time a $26 million operation, grew rapidly under his management. He oversaw the production and marketing of Lexan and Noryl, which were plastic products, developed in the GE labs.

In 1971, Welch also became the vice president of GE's metallurgical and chemical divisions. His background in chemical engineering combined with his astute business acumen made him a brilliant manager.

Jack Welch is best known for serving as the chairman and CEO of General Electric from 1981 to 2001. An astute manager and leader, he revolutionized the way GE conducted business and turned it into one of the fastest growing companies in the US.