TRENDING NOW:
Jamie Hresko, The General’s head of the Powertrain division, has decided to leave the company after a 28-year career to “pursue other opportunities”. According to GM officials who spoke with the Detroit News, Hresko elected to leave on his own authority, and is not part of some sort of executive shuffle. GM has yet to name a replacement, but look for an announcement soon.
Source: The Detroit News
Denise Johnson, head of GM of Brazil has stepped down after eight months. In a statement written by GM South America chief Jaime Ardila, Johnson left GM after 22 years “in search of new career opportunities.” Ardila will take over as GM Brazil head until a replacement is found.
During Johnson’s time as head of GM Brazil, market share has slipped to 17.7%, a drop of 4.3% over the course of a year.
Not even a week after a GM Authority Opinion Desk piece was published giving praise to OnStar President Chris Preuss, the guy up and leaves. Filling his shoes is Linda Marshall, who gets bumped up from executive director of OnStar’s corporate strategy and business development. Marshall is a seasoned veteran in the wireless communications field, having held multiple executive positions at companies such as Sprint Nextel and Verizon Wireless. When she assumes her new role February 1st, she will report directly to Stephen Girsky, GM Vice Chairman of corporate strategy and business development.
We wish Marshall the best of luck in her new position, and we hope to see her continue the momentum Preuss left behind. Continue for the presser.
This is the week when Dan Akerson officially takes the helm as CEO of General Motors, replacing Ed Whitacre. In hindsight, the timing was fairly predictable, although not many expected it. Whitacre was never intended to lead The General’s charge for the indefinite future, as his task was to restore the company back to profitability and, given the past two quarterly earnings, he has succeeded.
The GM board of directors, on which Akerson has served since July 2009, knew they would need to officially reveal the next CEO. The job required somebody who could successfully market the company to potential investors when it was time for the all-important Initial Public Offering (IPO), something Akerson is more than capable of: he has the attributes that should sit well with the wealthy crowd, given that they didn’t watch their previous shares of GM vaporize through bankruptcy.
If the title of this heavy and somewhat left-field news article caused you to spit out your Mountain Dew, coffee, or whatever you prefer to drink at this hour, don’t worry. You’re not the only one. When General Motors held a conference call to discuss its second quarter earnings, we only expected to report on just that, and not Big Ed’s resignation just when we were starting to get comfortable with him leading The General. And no, Maximum Bob Lutz will not be the one grabbing the reins.
Effective September 1st, 2010, GM board of directors member Daniel Akerson will be filling the big shoes Whitacre is stepping out of. Whitacre will stay on as chairman until the end of 2010, at which poin Akerson will take over the position.
Akerson, 61, is a former telecommunications CEO (much like Whitacre) for the business telecommunications company XO Communications, where he served from 1999 to 2003. Since 2003, he has been the managing director for global investment firm The Carlyle Group and still holds his position today. Akerson has also lead Nextel as its CEO from 1996 to 1999 and its chairman from ’96 to 2001.
It pretty much goes without saying that Akerson is no more a car guy than Whitacre. But he has been a voice in virtually every key decision since July 2009, when GM exited bankruptcy. We’re expecting great things from Mr. Akerson! Keep reading for GM’s presser.
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