Jack Welch was the CEO of General Electric (GE) from 1981-2001 and earned the moniker “Neutron Jack” from his management style. When he came into the position, he had GE cut all businesses in which the company could not dominate the market in first or second positions. Next, he had managers fire the bottom 10% of GE employees, and he fired the bottom 10% of management. The new commitment to competition came with large rewards, especially as stock option grants increased in value and GE continued to grow rapidly. GE soon became one of the most coveted places to work and attracted the best in the world.