"John Flannery ... can fix this very broken company. He can fix it because he's willing to admit from the get-go that GE's been very poorly run," the "Mad Money" host said.
Cramer still has a lot of questions — can GE's power division really be fixed? Could its insurance business be ringfenced without jeopardizing the dividend? — but given Flannery's clinical take on the company's problems, he thinks GE's new leader can bring the company out from under.
"Flannery's going to run this company like other great industrials are run, by the books, for cash and cash flow. Not the way that I would describe as being the GE way, which was totally opaque and totally nauseating," Cramer said. "I wish Mr. Flannery luck. He'll need it, but his candor and rigor tell me that he's the right man to turn around this once great American company."