Cramer: I don't get former GE CEO Jeff Immelt's possible move to Uber
A possible move by former General Electric (NYSE: GE) CEO Jeffrey Immelt to ride-hailing company Uber is surprising, CNBC's Jim Cramer said Monday.
On Saturday, Recode reported that Immelt, who is still GE's chairman until the end of the year, has emerged as the front-runner to become Uber's new CEO after Uber founder and Chief Executive Travis Kalanick resigned.
Recode, citing numerous sources with knowledge of the situation, said a board vote is expected within two weeks. Uber and GE declined CNBC's requests for comment.
"Maybe he brings a steady hand, and that is what's needed but I don't get it. You go from a company that's a colossus to a company that's a colossally crazed company and maybe Jeff wants that challenge," Cramer said on " Squawk on the Street ."
Cramer said Uber would be a very different "kettle of fish" than Immelt had at GE, saying it is a "free-for-all" at Uber. Cramer added perhaps Immelt's skills will come into play at Uber.
"It does show you that maybe he wanted to stay at GE," Cramer said.
In June , Immelt announced that he was stepping down as chairman and CEO of GE after 16 years, a management shake-up that many people saw coming.
Immelt led GE through a portfolio transformation, the 9/11 tragedy, the financial crisis and oil price dynamics, among other events. Some shareholders, though, were not happy with GE's financial performance over the past decade under Immelt's leadership.
In the Recode report, one source said Immelt is "certainly is not someone anyone can push around easily, which is probably his best characteristic."
Disclosure: Jim Cramer's charitable trust owns shares of GE.
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