I agree with you, however, people on this board have been calling for his removal since at least 2008, with no success. IMO, the BOD needs to go also. Shame on Jack Welch for picking Immelt as his replacement.
I don't know about suing, however, voting them out would be my wish. JI is incompetent, and should have been let go long ago. As for the supposed share buyback, JI should be made to prove his statement, and actually prove the net share buyback. His past bonus package has been based in part on acquiring new companies, so the money from recent division sales may be used to boost his bonus, and not for the shareholder imo. Shame on Jack Welch.