Jack Welch, who is regarded as the father of the "shareholder value" movement that has dominated the corporate world for more than 20 years, has said that it was "a dumb idea" for executives to focus so heavily on quarterly profits and share price gains.
The former General Electric chief told the Financial Times the emphasis executives and investors had put on shareholder value - which began gaining popularity after a speech he made in 1981 - was misplaced.
