execution, as defined as stretching to hit a target in any way possible, should be replaced by ‘pragmatism,’ where managers are not afraid to bring bad news to the C-suite,” Tusa wrote. “A product of the Welch era, we believe there is almost too much accountability at GE, to a point where bad news does not travel fast enough to senior management leading to decisions that are not perfectly informed and more often than not late. . . . From an investor perspective this ‘no bad news’ culture was a key reason why expectations never reset. This is a key change we will be watching for.”
