Jeffrey Immelt Has Better Things To Do Than Sit On The NY Fed Board
11:38 am, April 29th | by Hillary Reinsberg
So much to do, and so little time! Jeffrey Immelt, CEO of General Electric, has resigned from his spot on the board of directors of the New York Federal Reserve Bank, because he’s simply too busy, Dealbook reports.
In a letter of resignation, Immelt said that he was stepping down “given increased demands on my time,” namely given his new post as Chair of the President’s Jobs and Competitiveness Council. We also assume that his resume was getting longer than a page and maybe he was worried that might look tacky.
Immelt’s letter is dated March 9, but the New York Fed waited until yesterday to make the announcement.
Busy guy! As GE’s top dog for almost 10 years, following in the footsteps of famed GE CEO Jack Welch, we have to imagine Immelt has been over-scheduled for approximately a decade.
Check out Immelt’s resignation letter below.
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