Jack? Jack Who?
By Julie Schlosser

(FORTUNE Magazine) – Jack Welch has long been considered the Michael Jordan of Wall Street--a man praised for his unbeatable skills. News of Welch's retirement has garnered as much press attention as Jordan's decision to ditch hoops. (See cover stories.) Nevertheless, we have found six other CEOs who have performed at least as well as Welch over the past two decades. And now that he is getting ready to step down, we thought they deserved to receive a little attention of their own.

Thirty-three companies in this year's FORTUNE 500 outperformed GE's 21.5% total return from April 1, 1981--the day Welch took over--to Aug. 27, 2001. Of those, only a handful had the same chief executive in office the entire time. Result: six guys who know how to create long-term value.

These folks may know business, but their trash-talking skills are downright pathetic. Most of them were quick to praise Welch as one of the all-time greats. What's more, a few modestly denigrated their own accomplishments. (Maybe that's why they haven't all received such big book deals.) And Warren Buffett said that Welch's skills go beyond the boardroom: "He's even tougher on the golf course."

So, on second thought, maybe Welch really is like Mike. One difference, though: Unlike M.J.'s, we expect Jack's retirement to stick.

Welch-beating CEOs and their average annual total return, April 1, 1981- Aug. 27, 2001

27.6% Warren Buffett, Berkshire Hathaway The Sage of Omaha makes it personal: "I ask my executives to run the business as if it is the only asset their family has, they can't sell it, and they are going to own it for 100 years."

23.2% Les Wexner, Limited The press-shy Wexner is so tightlipped, he could be keeping Victoria's Secret. But he did tell us this: "I've thoroughly enjoyed my own personal transition from picking great sweaters to picking great people."

26.9% Jim Morgan, Applied Materials Morgan says he gives a memo, "Ten Ways to Be Successful," to all incoming employees. Some tips: "Make time for your well-being"; "Good news is no news, no news is bad news, bad news is good news."

21.5% Phil Knight, Nike Knight says his early interaction with Japanese culture helped form his collaboration-centered business philosophy. But he admits that "without the Swoosh, we'd be nowhere."

25.8% Cal Turner Jr., Dollar General How does Turner manage successfully (even in the face of ongoing shareholder lawsuits)? "Listening is the most potent talent of a leader," he says. "Especially to what may be unsaid."

26.5% Joe Luter III, Smithfield Foods Luter is a proponent of taking the long view. "We are willing to make decisions that are not really favorable to quarter-to-quarter earnings," the pork magnate says. "We make long-term decisions with long-term returns."