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Prologue
spent most of the Saturday morning after Thanksgiving 2000 waiting for the "New Guy." That was the secret code for my successor, the future chairman and CEO of General Electric.
On Friday night, the board had unanimously approved Jeff Immelt to succeed me. I called him right away.
"I have some good news. Can you and your family come to Florida tomorrow and spend the weekend.^"
Obviously, he knew what was going on. But we left it at that and went quickly to the arrangements to get him to Florida.
On Saturday morning, I could hardly wait to see him. The long CEO succession process was over. I was already outside when Jeff pulled into my driveway. He had a big smile on his face and was barely out of the car before I had my arms around him, saying exactly what Reg Jones said to me 20 years earlier: "Congratulations, Mr. Chairman!" As we hugged, I felt we were closing the loop. In that moment, my memories took me straight back to the day when Reg walked into my Fairfield, Connecticut, office and embraced me, in just the same way.
Bear hugs, or any hugs, were not natural gestures for Reg. Yet here he was with a smile on his face and his arms wrapped tightly around me. On that December day in 1980,1 was the happiest man