Hot Seat

What I Learned Leading a Great American Company

De: Jeff Immelt, Amy Wallace - contributor

Narrado por: Robert Petkoff, Jeffrey Immelt - introduction

A fascinating and candid memoir about successful leadership from the former CEO of General Electric, named one of the “World’s Best CEOs” three times by Barron’s, and the hard-won lessons he learned from his experience leading GE immediately after 9/11, through the devastating 2008-09 financial crisis, and into an increasingly globalized world.

In September 2001, Jeff Immelt replaced the most famous CEO in history, Jack Welch, at the helm of General Electric. Less than a week into his tenure, the 9/11 terrorist attacks shook the nation, and the company, to its core. GE was connected to nearly every part of the tragedy - GE-financed planes powered by GE-manufactured engines had just destroyed real estate that was insured by GE-issued policies. Facing an unprecedented situation, Immelt knew his response would set the tone for businesses everywhere that looked to GE - one of America’s biggest and most-heralded corporations - for direction. No pressure.

Over the next 16 years, Immelt would lead GE through many more dire moments, from the 2008-09 Global Financial Crisis to the 2011 meltdown of Fukushima’s nuclear reactors, which were designed by GE. But Immelt’s biggest challenge was inherited: Welch had handed over a company that had great people, but was short on innovation. Immelt set out to change GE’s focus by making it more global, more rooted in technology, and more diverse. But the stock market rarely rewarded his efforts, and GE struggled.

In Hot Seat, Immelt offers a rigorous and raw interrogation of himself and his tenure, detailing for the first time his proudest moments and his biggest mistakes. The most crucial component of leadership, he writes, is the willingness to make decisions. But knowing what to do is a thousand times easier than knowing when to do it. Perseverance, combined with clear communication, can ensure progress, if not perfection, he says. That won’t protect any CEO from second-guessing, but Immelt explains how he’s pushed through even the most withering criticism: by staying focused on his team and the goals they tried to achieve. As the business world continues to be rocked by stunning economic upheaval, Hot Seat “takes you into the office, head, and heart of the man who became CEO of GE on the eve of 9/11, and then led the iconic behemoth for 16 fascinating, and often turbulent, years. A handbook on leadership - and life” (Stanley A. McChrystal, General, US Army [Retired], CEO and Founder, McChrystal Group).

©2021 Jeffrey Immelt (P)2021 Simon & Schuster Audio

Very good narration.

I'm not here to review or judge the contents of this book. I've noticed a general decline in audible narration over the past year or so, so I'm just reviewing the narrations.

The narration in this book was very good. It was definitely a person narrating it. Good emotion, good inflection, good tempo, and good pronunciation. You won't be disappointed by the narration.

Very Insightful

Great story from a great vantage point.

Very insightful and engaging read.

A leader has to be tested in both good and bad times to truly vet their mettle.

I'd like to see the GE tatoo though ...

Very valuable lessons. Great insights.

Loved it. Very valuable stories and insights about different business situations managing one of the biggest companies in the world. Worth rereading few times. Favorite chapters about systems thinking, competing around the world, learning everyday and being optimistic.

Could have gone deeper

Mr Immelt’s story was enjoyable but I had hoped to read a more thorough account of his time at GE. I had a lot of respect for GE and have no doubt that there were plenty of talented people there. Might be better if we get to read Steve Bolze’s and John Flannery’s side of the story too

Should be called ‘in Defense of my time as ceo’

I feel like this book should never have been written. He only has a story of failure to tell which would actually be interesting if he could bring himself to be honest about it.

Good leaders own failure and just stop there. He owns it (for about 5 seconds) then deflects it onto someone/anyone else. Toxic leadership and classic Harvard MBA er. He has an excuse for everything.

The numbers don't lie. Jeff is the best ever.

I've never been employed by GE, but I was a licensed lessor, married a VP, and wrote a lot of auto fintech for them (and many others) from 1977 thru 2020. Loved reading about events I was involved in, and how things played out.
Jeff is 10x the leader Jack was and 10x the leader Mr. Culp could ever be.  Albeit in absentia, the monetary and societal benefits of restoring GE as an industrial company are just emerging via presidential executive order. My (know-body) prediction is Jeff will (virtually) return to the helm because nobody at GE now can do what he did then. The United States of America is on the verge of an econocentric and an ecological recovery. While GE stockholders may enjoy the money from his labor for a while, only Jeff can sustain it - probably only as an outlier. 

A different narrative

Jeff Immelt was a strong leader, and the book was well written. However, he is still not owning up the five biggest strategic mistakes he made during his tenure, namely: selling NBC cheap; selling good pieces of GE capital cheap while keeping the bad pieces; buying oil and gas assets high; wasting tens of billions on GE digital; and ultimately buying Alstom high. These five mistakes alone destroyed hundreds of billions of dollars of share holder value. Jeff earned the reputation of “buy high sell low” in Wall St. People inside GE knew he pushed the deals even when they made bad economic sense. There’s no denying that those were “Jeff’s deal”s. You can’t claim leadership while denying responsibility for your biggest mistakes.

Great insight into the goings on in a conglomerate.

Nice read. Gives a the reader a good sense of how big are some of these conglomerates and how much they control. At the same time presents the stories of individuals and their interactions in this vast business.

He Tried

I am 63, own a micro-business with my wife, and will never be a CEO of the sort Immelt often addresses. Nonetheless, he put a good effort into the book and his decades at GE. I will seek out more opportunities to hear and read what he has to say. I can give no greater compliment.

Good insight into running a huge company

Hot Seat is a brief glimpse into what it’s like to run a huge corporation from the leaders seat. I enjoyed the story - but it left me feeling that I wasn’t getting the unvarnished truth. Much of the book read like it was written to protect the author’s legacy