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Hot Seat: What I Learned Leading a Great American Company Hardcover – February 23, 2021
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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 sixteen 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 sixteen fascinating, and often turbulent, years. A handbook on leadership—and life” (Stanley A. McChrystal, General, US Army [Retired], CEO and Founder, McChrystal Group).
- Print length352 pages
- LanguageEnglish
- PublisherAvid Reader Press / Simon & Schuster
- Publication dateFebruary 23, 2021
- Dimensions6 x 1.2 x 9 inches
- ISBN-101982114711
- ISBN-13978-1982114718
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Editorial Reviews
Review
“An extraordinary combination of insights and candor. Jeff Immelt’s 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 sixteen fascinating, and often turbulent, years. A handbook on leadership – and life.” —Stanley A. McChrystal, General, US Army (Retired), CEO and Founder, McChrystal Group
“Jeff Immelt has always been one of my leadership role models. He leads with head and heart. He is an ‘all-in’ leader who is completely committed to his team and his customers, and he cares deeply about both. This book shows how leadership is a full contact sport and Jeff leaves everything on the field.” —John Donahoe, CEO, Nike
“Jeff Immelt’s Hot Seat is the ultimate and intimate insider’s account of sixteen epic years as CEO of GE. With remarkable candor and self-awareness, Jeff tells hundreds of riveting stories—sharing hard-learned lessons in leadership. Hot Seat is the brilliant, fast-paced, tough love story of Jeff’s personal devotion to his family and GE’s people. He literally bleeds for GE (spoiler alert: tattoos revealed). If you work in tech, finance, energy, or health care, this book is required reading. If you care about world affairs, global progress, or public service, it is inspiring. Hot Seat is a great gift from Jeff, a personal hero and patriotic, magnificent servant leader.” —John Doerr, Chairman, Kleiner Perkins and author of Measure What Matters
“Hot Seat is a must read for anyone wanting to learn about what it takes to lead through turbulent times. The real world is full of tail events, constraints, and circumstances you don’t control. Jeff's book is full of insights on what it takes to show up and lead and move the organization and world around you forward.” —Satya Nadella, CEO, Microsoft
“A fascinating account of the drama of what it takes to lead a great global business in times of rapid change. Hot Seat weaves through the lesson of leadership at every step of the story. It is an important read for leaders of global commerce—today and for those of the future.” —Bob Dudley, former CEO, BP
"For anyone who's endured failure or heartbreak in their professional life—and that means everyone—Jeff's tale, full of insight, wisdom, perseverance and heart, is an invaluable resource and a blueprint for dealing with the wonderful chaos of leadership." —Jennifer Aaker, Professor, Stanford Graduate School of Business and author of Humor, Seriously
"Jeff Immelt’s disarmingly candid retrospective of his sixteen-year tenure as CEO of GE dissects his successes and failures, providing insider perspective on the rationale for his most controversial decisions. He explores the emotional and intellectual challenges of the loneliest, most challenging position in any organization. There are many lessons to be gleaned from this narrative. This is an insightful perspective for aspiring, current and future leaders." —Toby Cosgrove, Executive Advisor, former President and CEO, Cleveland Clinic
“Jeff pulls back the curtain on his many battle scars, talks about lessons learned and gives us insight into the importance of optimism, growth and, most important, humility.” —Ruth Porat, SVP and Chief Financial Officer, Alphabet and Google
“Jeff has delivered the most insightful perspective on GE over a remarkable period of change and growth with the same intellectual energy, self-reflection, and bold leadership that he used in running the company for more than sixteen years. This book is the definitive account of how it all unfolded.” —Geoff Beattie, Chairman and CEO, Generation Capital
“Hot Seat is bravely honest in a way few CEO books have ever been. Jeff shows deep humility, taking you inside the boardroom during an extraordinary time in GE, and American, history. It is fascinating insight from a career filled with incredible highs and lows, and Jeff does not shy away from any of it. This is a must-read book for every CEO, aspiring business leader, or anyone who has to manage teams, big and small.” —Jeff Zucker, President, CNN
"A must-read for all students of capitalism." —David M. Rubenstein, Founder and Coexecutive Chairman, The Carlyle Group
“Hot Seat provides a detailed inside view of the intense challenges in leading the most successful diversified industrial company of the 20th century into a turbulent 21st century. The book reveals the enormous energy, passion and commitment needed to navigate a highly complex and global business. Jeff’s energetic and charismatic leadership style, based on his unwavering commitment to innovation, customers and employees, is seen through incredible events and business portfolio challenges. Hot Seat also provides many insightful business and leadership lessons.” —Joe Hogan, President and CEO, Align Technology
“Hot Seat is an interesting and captivating read. It chronicles Jeff Immelt’s career at GE, how he spent his time, especially as CEO, how he himself grew over time and helped develop others. The book provides useful background and perspective on the many critical decisions he made—selecting leaders, buying and selling businesses, where to invest and where not to. Like any big company, others may or may not agree with his decisions, but Jeff’s rationale is explained clearly. The lessons learned about business leadership are extremely valuable and thought-provoking. We can all learn something from Hot Seat. I recommend it highly.” — Omar Ishrak, Executive Chairman, former CEO, Medtronic; Chairman of the Board, Intel
"I very much enjoyed and learned from Hot Seat. There are so many valuable leadership lessons from Jeff’s experience in successes and failures. The book is so direct and honest, which makes it special. And it explains the story of GE over the last 30 years, which is fascinating in and of itself." —Steve Ballmer, former CEO, Microsoft
“The metric that matters in a business leadership book is how many pages you underline things on because you know you want to remember and refer back to them. Hot Seat scored 192 for me. If you’re looking for a ‘How great was I?’ memoir, move to the next book. If you want the real lessons of leading one of the world’s most complex companies through sixteen of the world’s most challenging and least predictable years, take a seat and turn to page one.” —Andrew Robertson, President and CEO, BBDO Worldwide
“Read this book. You’ll be a better leader for it.” —David Rogier, Founder and CEO, MasterClass
“In this artfully told biography, Jeff Immelt offers a master class to today’s CEOs who are building global businesses as they encounter unprecedented pace of change and tail risks. The reader is afforded a rare window to see how lonely leadership can be at critical times and teaches key leadership lessons that are both timely and timeless. We learn so much on how to run our businesses more effectively and be better human beings, making this not only a must-read book but a go-to reference.” —K. R. Sridhar, Founder and CEO, Bloom Energy
"Hot Seat is a compelling account of Jeff Immelt’s sixteen years as the CEO of GE. It is both a raw and honest interrogation of himself and his tenure. For me, the highlight of the book was his sharing of the personal learning journey; acknowledging success and failure, absorbing fear while acting, energizing and obtaining energy from his team. In writing this, Immelt answers his critics, displays the leader as teacher, but most importantly finds his redemption." —Gordon Cairns, Chairman, Woolworths Group
“Jeff Immelt’s approach to leadership, his work ethic, and his ability to embrace ‘systems thinking’ holds lessons for everyone. His own account of his time as head of GE is an important read that reflects the big questions all leaders face—from pivoting strategically towards the future, to balancing the needs of businesses as well as other stakeholders.” —N. Chandrasekaran, Chairman, Tata Sons
"Hot Seat delivers valuable stories and lessons that show what it’s like to lead a global company through uncertain times. As Jeff says, ‘leadership can be a lonely job.’ It takes courage and authenticity, and Jeff brings both in his memoir." —Meg Whitman, former CEO, eBay
About the Author
Amy Wallace is a writer based in California. She splits her time between magazines and books. Her magazine work has appeared in GQ, Wired, The New Yorker, New York, Esquire, Vanity Fair, Details, The Nation, The New York Times Magazine, Elle, and other national publications. Two of her profiles—“Hollywood’s Information Man” (Los Angeles, 2001) and “Walking Time Bomb” (New York, 2019)—have been National Magazine Award finalists. An archive of her work can be found at Amy-Wallace.com. In 2014, she collaborated with Ed Catmull, then the president of Pixar Animation and Disney Animation, on his New York Times bestselling book Creativity, Inc.: Overcoming the Unseen Forces That Stand in the Way of True Inspiration. Her second collaborative book, this one with former CEO of General Electric Jeff Immelt, is Hot Seat: What I Learned Leading a Great American Company.
Product details
- Publisher : Avid Reader Press / Simon & Schuster
- Publication date : February 23, 2021
- Language : English
- Print length : 352 pages
- ISBN-10 : 1982114711
- ISBN-13 : 978-1982114718
- Item Weight : 1.1 pounds
- Dimensions : 6 x 1.2 x 9 inches
- Best Sellers Rank: #363,173 in Books (See Top 100 in Books)
- #339 in Company Business Profiles (Books)
- #634 in Biographies of Business & Industrial Professionals
- #1,952 in Leadership & Motivation
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Customers find the book enjoyable, with one noting it's not a typical boring business book. Moreover, the leadership lessons receive positive feedback, with customers appreciating the insights for learning leaders and the author's candor. However, the value for money receives negative feedback, with one customer describing it as a waste of time to read.
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Customers find the book enjoyable to read, with one customer noting it's not a typical boring business book, while another describes it as fantastic, informative, and easy to read.
"...That really has nothing to do with whether this book is worth reading. It is..enough said." Read more
"...Finally the book is written in an accessible and engaging way that makes it a great read!" Read more
"...Provided valuable insight into E Suite and how they think. I loved the book and would highly recommend it! It’s not ur typical boring business book!..." Read more
"Excellent read and great insight into the workings of his time at GE. He notes some really good lessons for career development and managing...." Read more
Customers appreciate the leadership lessons in the book, noting its candor and insights for learning leaders.
"...Great leadership lessons.Sometimes business cycles don't work in your favor and managing crisis after crisis is a skill...." Read more
"Hot Seat is a useful and timely lesson in leadership that unabashedly highlights the ups and downs of leading a large company...." Read more
"...It’s raw with big picture insight & enough details where needed. Fun easy read that makes you ‘think’ all angles!" Read more
"Excellent read and great insight into the workings of his time at GE. He notes some really good lessons for career development and managing...." Read more
Customers express dissatisfaction with the book's value for money, describing it as a waste of time to read and an extremely weak attempt to justify its content.
"...would be an extraordinary experience, but the book doesn't deliver enough to be worthwhile." Read more
"Extremely weak attempt to justify one of the most disastrous CEO reigns of a major US corporations!..." Read more
"Very sad book. Jeff shows no appreciation about what GE meant to hundreds of communities...." Read more
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- Reviewed in the United States on February 27, 2022I read this book after listening to a pod cast interview with Jeff Immelt. Great leadership lessons.Sometimes business cycles don't work in your favor and managing crisis after crisis is a skill. Jeff is humble enough to share lessons learned from failure.
Some of the reviews I read about the book were critical of Jeff Immelt's tenure as CEO. That really has nothing to do with whether this book is worth reading. It is..enough said.
- Reviewed in the United States on January 16, 2022As a GE capital employee during the period covered I experienced a lot of the events described. My superiors did tell us what they knew. I do not feel we were mislead.
- Reviewed in the United States on February 24, 2021Hot Seat is a useful and timely lesson in leadership that unabashedly highlights the ups and downs of leading a large company. The book is not prescriptive or dogmatic in offering advice but rather provides examples of challenges Jeff Immelt faced at GE. Hot Seat provides an additional, unique perspective on the financial crisis, the rise of China, and globalization that helps add some personal context to these contemporary events. Finally the book is written in an accessible and engaging way that makes it a great read!
- Reviewed in the United States on July 23, 2021Everyone in business should read this book! Provided valuable insight into E Suite and how they think. I loved the book and would highly recommend it! It’s not ur typical boring business book! It’s raw with big picture insight & enough details where needed. Fun easy read that makes you ‘think’ all angles!
- Reviewed in the United States on March 20, 2021So, who owns the movie rights? I can see an opening scene with Jeff and Warren Buffett enjoying a Diet and Cherry Coke, respectively. Warren’s a bit sweeter, but not by much. I guess every story has two sides, so that’s what the movie should be about, and compare GE to other similar behemoths that weathered the financial crisis, as well as a number of other catastrophic events, as did GE. Bottom line, it looks like the world changed radically, GE was too big for its britches and could not transform itself fast enough, despite heroic efforts. Meanwhile Musk & Company left it in the dust...
- Reviewed in the United States on April 11, 2021No matter where you sit on whether Jeff Immelt was great or not for GE, this is a great account on leading big complex businesses. I appreciate his candour on some of the difficult moments and decisions. I don’t think the role of GE Capital on GE’s recent woes has been fully interrogated though and that starts with Jack Welch. He also brings to the spotlight the challenge of building long term sustainability whilst contending with analysts and investors’ expectations for always exceeding earnings expectations quarterly. Great reflections
- Reviewed in the United States on April 20, 2021I had great respect for Immelt until his fall from grace. Then I read this book and realize that you need to listen to both sides of the story. I do agree that Immelt got a GE that was too bloated but it is also true that he made serious strategis mistakes. I like the fact that despite his ranting, he did try his best. GE was too much of a bloated beast and he could not handle it as one CEO. It is also awesome how he shares his wisdom and mistakes with students. Many will benefit from his experience and wisdom.
- Reviewed in the United States on April 9, 2021Excellent read and great insight into the workings of his time at GE. He notes some really good lessons for career development and managing. As an exGE Finance manager, I really enjoyed the read. Highly recommend for anyone in business.
Top reviews from other countries
- Alok KejriwalReviewed in India on March 14, 2021
5.0 out of 5 stars A masterclass in dealing with extraordinary expectations & doing your best?
A hot new book that stunned, surprised & deeply educated me.
Unlike 99% of business books are about winners/winning, this book is about 'losing/being a loser' (as claimed by Jeff). I think he is too hard on himself.
What's great?
- The HARD, GUT Wrenching story of what it takes to INHERIT a job vacated by the world's (erstwhile) most respected & followed leader - Jack Welch. (As will be the story of successors of Warren Buffett, Steve Jobs).
- How horrible luck & circumstances can knock you out & what it takes to survive. Jeff's 1st day at work was Sept 10, 2001 :(
- Dealing with false expectations. "I became CEO of a Company where perception didn't equal reality".
- Dealing with horrific mindsets. Jack Welch didn't let Jeff buy a Company in Silicon Valley coz 'people are crazy out there'.
- The passion of a man to get the Company logo 'tattooed on his hip'!! (Would you do that?)
- AMAZING chapters on operations - how Big things get done on Big companies!
- A lot of self-introspection. This book takes the world record of the nos of times a writer admits he was wrong!
- Deep insights on dealing with nations, nationalities, politics & decision making at the highest levels.
- If nothing else, a book about PURE STAMINA!
- CiaranReviewed in the United Kingdom on August 12, 2022
5.0 out of 5 stars Honest
I worked in GE Capital and this book is honest forthright and insightful. I highly recommend it to readers who want to learn what it was like running GE.
- Alberto PezeiroReviewed in Brazil on March 24, 2021
5.0 out of 5 stars A narrative from someone intern to GE and the facts
It is an wonderful oportunity to listen to one of the sides of a history . I also recomend read " Lights out " to chck a different perspective from the same theme . Same factes different narratives .
-
Client d'AmazonReviewed in France on March 30, 2021
5.0 out of 5 stars Livre qui couvre bien ce que j’ai vevu
Je fus associé en temps que partenaire avec GE pendant 22 ans.
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NADIEReviewed in Spain on April 28, 2021
4.0 out of 5 stars El tesón, la visión, el compañerismo , la competencia y la soledad
El final