Jeffery Immelt, CEO of Fairfield-based General Electric Co., has been his company’s biggest whipping boy lately.
The head of the conglomerate with businesses from jet engines to lending has humbly accepted responsibility for GE’s “tarnished” reputation as a “safe and reliable” growth company. Immelt recently rejected a $12 million bonus, saying it was unwarranted in light of the company’s weak performance that resulted in slashing its dividend.
But Immelt also has been unabashed in his support of GE’s outlook. Last week, Immelt dug into his pocket and bought 50,000 shares of GE, with a market value of roughly $350,000. Notably, the stock was near a 52-week low.
