According to the Detroit Free Press, General Motors interim chairman, Kent Kresa, has been asked by president Obama's administration to replenish the automaker's board with fresh blood. Kresa said that while the board did achieve "historic things" recently, like renegotiating the UAW pay scale, he also said that the board didn't fully comprehend the magnitude of the downturn.
As it did in asking Rick Wagoner to step down, perhaps the White House Auto Task Force views GM's board as too steeped in the way things used to be. They are, after all, the same folks who backed Wagoner fully not even a year ago. Kresa is interviewing potential board members with an eye to replacing six people, which would be half of the current board, by June.
[Source: The Detroit Free Press | Image: Getty/Jeff Haynes]