Akerson may leave GM next year, search for replacement not started yet
"I assume at some point he (Akerson) will decide he has done what he has wanted to do and will step down, but no one has a date for that," says an unidentified source who is familiar with the situation. Executives at Peugeot, GM's European partner, reportedly said after talks with GM earlier this year that they believe Akerson will retire before 2016 - more likely next year - according to knowledgable sources at the French automaker. And if Akerson's retirement is indeed nigh, GM representatives reportedly say, "We're very comfortable with our succession planning, which we have in place for all our key officers."
Let's take a look at some signs that point to his early retirement: back in April, GM restructured Akerson's pay to compensate for about $2 million in restricted stock that wouldn't vest until 2016, which he would have to forfeit if he retired early. Additionally, he didn't receive any restricted stock units in 2012. And while Mark Reuss is widely acknowledged to be the frontrunner to take the CEO helm, Akerson has been talking about replacements, too, and has said that a female CEO at GM is inevitable. On its own, that's an appreciated, progressive statement, but when considering Akerson's retirement situation, it reinforces that Mary Barra, GM's executive vice president of product development and one of the 50 most powerful women in business, is in contention for the job. The other two potential CEOs are Vice Chairman Steve Girsky and CFO Dan Ammann.
At this point, it seems GM is just waiting until Akerson has decided that he has done what he wants to do, in the words of the aforementioned, unnamed source, and investors aren't rushing to replace him.
- Most and least efficient car companies
- Fastest-depreciating cars in the United States
- Find and compare 2017 Models