Jack Welch’s shareholder value bombshell

March 18, 2009 4:59pm

My colleague Francesco Guerrera pulled off a wonderful scoop the other day when he asked Jack Welch, former chief executive of GE, for his views on how business leaders should be running their companies in these chaotic times.

“On the face of it, shareholder value is the dumbest idea in the world,” he declared to a stunned world.

In recent days Mr Welch has tried to finesse his position a little, but he has not withdrawn the orginal comment.

What do you make of it?