If you pick the right people and give them the opportunity to spread their wings—and put compensation as a carrier behind it—you almost don’t have to manage them.

Jack Welch

John Francis “Jack” Welch, Jr. (born November 19, 1935) is an American chemical engineer, business executive, and author. He was Chairman and CEO of General Electric between 1981 and 2001. During his tenure at GE, the company’s value rose 4000%. In 2006 Welch’s net worth was estimated at $720 million.