John Francis "
Jack"
Welch, Jr. (born November 19, 1935) is a retired American business executive, author, and
chemical engineer. He was chairman and CEO of
General Electric between 1981 and 2001. During his tenure at GE, the company's value rose 4,000%. In 2006, Welch's net worth was estimated at $720 million. When he retired from GE he took a
severance payment of $417 million, the largest such payment in history.