Many think this is overdue, and his ouster would normally be the work of the “Board of Directors.”
Much of what has become problematic for American businesses is from failed Boards.
Historically boards had several “insiders” who knew the business, had a big stake, etc.
Then about 20 years back it was deemed in the universities that boards needed diversity.
Most major corporations complied, replacing seasoned industry execs on the board, with designated token blacks, women, hispanics, etc.
Now there is a class of highly educated polished people who mainly sit on boards. They are usually professors, lawyers or retired business execs from other industries.
The people on Obama’s advisory board right now for this auto industry bailoput have no automobile industry experience.
The idea to get rid of Wagoner is ccorrect, and is only obvious. The highpopint of his tenure was cranking out Tahoes and Silverados with not much of a contingency plan for later times.
It is later times. Toyota had contingency plans, and took over Number One.
Maybe the next head of GM will think of something besides having one vehicle, and selling it under three badges.
Not a car guy or an engineer amongst them.
(I’ve heard tell GM is a health care company that has a money losing car operation)
The General Motors Board of Directors
Erskine B. Bowles
President,
The University of North Carolina
Director since 2005
John H. Bryan
Retired Chairman
and Chief Executive Officer,
Sara Lee Corporation
Director since 1993
Armando M. Codina
President
and Chief Executive Officer,
Flagler Development Group
Director since 2002
Erroll B. Davis, Jr.
Chancellor,
University System of Georgia
Director since 2007
George M.C. Fisher
Retired Chairman
and Chief Executive Officer,
Eastman Kodak Company
Director since 1996
E. Neville Isdell
Chairman
and Chief Executive Officer,
The Coca-Cola Company
Director since 2008
Karen Katen
Chairman,
Pfizer Foundation,
Retired Vice Chairman,
Pfizer Inc and Retired President,
Pfizer Human Health,
Director since 1997
Kent Kresa
Chairman Emeritus,
Northrop Grumman Corporation
Director since 2003
Philip A. Laskawy
Retired Chairman
and Chief Executive Officer,
Ernst & Young
Director since 2003
Kathryn V. Marinello
Chairman
and Chief Executive Officer,
Ceridian Corporation
Director since 2007
Eckhard Pfeiffer
Retired President
and Chief Executive Officer,
Compaq Computer Corporation
Director since 1996
G. Richard Wagoner, Jr.
Chairman
& Chief Executive Officer,
General Motors Corporation
Director since 1998