Jack Welch, the former chief executive of the world's largest conglomerate, is to become a special partner of Clayton, Dubilier & Rice, the US buy-out firm.

Welch's General Electric was pre-eminent in an ever dwindling sector and unusual in its ability to deliver double-digit growth consistently. In his new role, Welch will work with Clayton, Dubilier & Rice on strategic issues related to current and future investments. This will include executive leadership, change management and performance improvement.