We dig a good political tell-all every once in a while (how else will we get our political fix while waiting for House of Cards' third season?). Today, we get just that from former Treasury Secretary Timothy Geithner's new book, "Stress Test," which details, among other parts of the 2009 financial catastrophe, the structured bankruptcy that allowed Chrysler and General Motors to emerge as competitive players in the auto industry.
One would expect that as the CEO of one of the largest automakers in the world, the pay would be pretty darn competitive. And for the just-announced incoming CEO of General Motors, Mary Barra, the financial compensation package could well be substantially rosier than it was for her predecessor. That's because she'll be the first exec at the company's helm since the federal government sold off its remaining interest in the company earlier this week.
Already there are many signs that suggest General Motors CEO Dan Akerson will retire next year, but he hasn't formally announced his plans to GM's board, The Economic Times reports, and the search for a new CEO apparently hasn't started. If Akerson retires next year, as is speculated, the move would come sooner than when was expected when he took the job back in 2010.
Mary Barra, the current Executive Vice President, Global Product Development for General Motors and widely believed to be a leading candidate to succeed current GM CEO Dan Akerson, has been named to the Fortune's Top 50 Women in Business list for the second year in a row.
Running a Detroit auto company won't be a good ol' boys club forever, at least according to the Chairman of General Motors, Dan Akerson. Speaking at the 2013 Michigan Automotive Summit this week, Akerson said that a female CEO was "inevitable," with some sources suggesting the comment may have been a reference to Mary Barra, GM's Senior Vice President of Global Product Development, one of the executives tipped to be in the running to succeed Akerson when he retires.
General Motors CEO Dan Akerson has been quoted as saying Mary Barra is on the list of his potential successors. Akerson has been adamant about the fact that the next head honcho for General Motors should come from within the automaker's ranks. Reuters reports the executive believes it is crucial for GM to increase the number of female top executives in the company, and he believes that women handle change better than men.
Looks like the petition from Forecast the Facts calling on GM to stop giving money to the Heartland Institute, a major player in climate change denialism, is having an effect. GM hasn't promised to end its funding of the Institute's School Reform News publication, which is dedicated to covering news about things like charter schools and vouchers, but GM CEO Dan Akerson recently told the Commonwealth Club in San Francisco that he is a believer in global warming and that he is committed to "taking
Last year, General Motors' chief executive officer Dan Akerson says the Toyota Prius is a geekmobile he "wouldn't be caught dead in." That comment caught a bit of fire, and his latest – that hydrogen fuel cell vehicles won't be practical until at least 2020 – will likely do the same.
Recently, General Motors chief executive officer Dan Akerson held a private meeting with the automaker's team of execs. At this conference, Akerson reportedly revealed his target for plug-in vehicle sales. According to three sources – who asked to remain anonymous – Akerson expects GM to sell 45,000 electric-drive vehicles in 2012. That's a target that the automaker is confident that it will reach. However, GM's CEO envisions tremendous growth in the company's plug-in sales by mid-de
During a conference call to discuss General Motors' second quarter earnings, Ed Whitacre announced that he will be stepping down from the position of CEO effective September 1st, and that his title of Chairman of the Board will terminate at the end of 2010.
The more things change, the more... you know what we're trying to say. Just last week, longtime AT&T guru and then interim General Motors CEO Ed Whitacre was able to ditch that pesky 'interim' modifier and became the king of the hill at GM. Of course, that was last week. This week we're getting reports that Ed Whitacre (who, curiously enough, was the president of the Boy Scouts of America from 1998-2000) will be out of the RenCen in two to three years.
While early rumors suggested that this morning's surprise news conference at General Motors' Renaissance Center might be to confirm the sale of Saab to Spyker, the big news emanating from the company's Detroit headquarters is that Ed Whitacre Jr. is scrubbing 'interim' from his door plaque and instead taking the title of permanent CEO.
Headhunting firm Spencer Stuart is without doubt on the speed-dial lists of bailed-out firms, having placed chairmen, CEOs, Chrysler Group LLC, and board members for AIG, Citigroup Inc., Freddie Mac, Fannie Mae, and GMAC. Then they flew over General Motors so that Ed Whitacre, Jr. could heli-drop in. Now, The Wall Street Journal is reporting that GM has chosen Spencer Stuart to assist it in locating a permanent CEO to take up the position from Whitacre.