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Cramer Doesn't Understand Why Ex-GE CEO Immelt Would Want To Run Uber

Cramer Doesn't Understand Why Ex-GE CEO Immelt Would Want To Run Uber
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Ex-General Electric Company (NYSE: GE) CEO, Jeffrey Immelt, is reportedly eyeing the vacant CEO title at the ride-hailing company Uber. But why he would want this job is confusing to some, including CNBC's Jim Cramer.

The fact Immelt is considering the CEO job at Uber is an indication that he wasn't ready to retire yet and maybe even wanted to hang on to his job at GE a bit longer, Cramer suggested during Monday's "Squawk on the Street" segment.

"When you leave [a CEO title] at his age you usually go fishing," Cramer said. "He's not fishing."

Moreover, a shift from GE to Uber implies a transition from a "company that is a colossus to a company that is a colossally crazed company," Cramer continued. Uber is essentially a "free-for-all" whereby many damaging reports have surfaced which makes the company look like "Animal House."

Or maybe the answer is simple: Immelt is up for a challenge. He is, after all, a seasoned executive with the necessary global experience — as opposed to Uber's co-founder and ex-CEO Travis Kalanick who was no longer the right fit to lead the company at a time when it is expanding globally and looking to improve its financial position.

"Maybe this is is where his style will come into play," Cramer suggested. "It wasn't coming into play at GE. GE's stock ... couldn't be worse."

Related Links:

Travis Kalanick Is 'Steve Jobs-ing It' And Seeking A Return To Power

Meg Whitman Shoots Down Uber Rumors For Good
Image Credit: By Yinxinybyq - Own work, CC BY-SA 4.0, via Wikimedia Commons

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