John Flannery spent 25 years working his way into striking distance of the top job at General Electric Co. Then, he spent the next four winning a succession dance-off with four rivals. His prize was a paltry 14 months as chief executive.
GE’s board dumped Mr. Flannery amid missed financial targets and concerns about the pace of change. Directors, having endured years of meager returns under his predecessor, watched GE shares tumble by half during Mr. Flannery’s brief tenure even as the S&P 500 grew about 18%.
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