Jeff Immelt, the embattled former CEO of General Electric who last year left the company in turmoil, was appointed as chairman of the board of Athenahealth, Inc.
Immelt held several global leadership positions since joining GE in 1982, including roles in GE's Plastics and GE Appliances and president and CEO of GE Healthcare. He was selected by the GE Board in 2000, to succeed the legendary Jack Welch, but left the company in a financial tailspin.
Some see his appointment to Athenahealth as a chance for redemption.
In an interview with CNBC, management expert, associate dean at Yale School of Management, and a member of Directors & Boards editorial advisory board Jeff Sonnenfeld said: "This is a chance for a new beginning for Jeff. These new beginnings can be very valuable to individuals and the companies they help."
Immelt said in a statement about his Athenahealth appointment that "I have long been inspired by founder-led companies and their ability to outperform and out-innovate peers. In this regard, I have great respect for all that Athenahealth has accomplished and its passionate culture, which has been such an important contributor to the company's success."
During the last 10 years of his tenure at GM, he reshaped the company's portfolio with the sale of...