Richard Wagoner
Richard Wagoner
George Richard "Rick" Wagoner, Jr.is an American businessman and former Chairman and Chief Executive Officer of General Motors. Wagoner resigned as Chairman and CEO at General Motors on March 29, 2009, at the request of the White House. The latter part of Wagoner's tenure as CEO of General Motors found him under heavy criticism as the market valuation of GM went down by more than 90% and the company lost more than $82 billion USD. This led to his being...
continued cost financial focus lead reduction results strong success
The results show that our focus on cost reduction and success in the marketplace lead to continued strong financial results,
additional change decisions difficult dramatic financial global improve industry involve leadership reduce requires risk sacrifices senior ways
These are difficult decisions that involve sacrifices by our employees, stockholders, retirees, and the senior leadership team. However, we are confronting a dramatic change in our industry and in the global competitive environment, and that requires us to look for additional ways to reduce financial risk and improve our competitiveness for the long term.
challenges competition earn global maintain realistic respect sales
I'm not conceding anything to anybody. We respect our competition around the world, and we're realistic about our challenges and opportunities. We know we have to earn the right to maintain our global sales leadership, and we're doing that day after day.
company jack spread stay support work
There is a lot of work to do in this company and it makes sense to spread it out, ... We very much wanted Jack to stay around and support us.
advisor broad career friend gm mike others range thank tremendous wish
During his 36-year career at GM, Mike has made a tremendous contribution to GM in a broad range of assignments, ... And, he's been a long-time advisor and friend to me and many others in the company. We thank him and wish him well.
changes clearly encouraged scale speed work
While we are encouraged by the speed and scale of the changes we're implementing, there is clearly more work to be done.
days looking next point sales
At this point we don't see big concerns, ... We're looking for some big sales over the next 30 days or so.
approval aspects continue fulfill implement north objectives rapidly turnaround
This approval allows us to fulfill those important objectives as we continue to rapidly implement all aspects of our North American turnaround plan.
decision difficult greatest necessary
This is a difficult but necessary decision and it was made only after the greatest deliberation.
action benefits companies conceived continue costs decades explosive face foreseen global healthcare high increasing inflation number recent rise rising similar simply taken
A number of other U.S. companies have already taken similar action in the face of these rising costs and increasing global competition. In particular, U.S. healthcare costs continue to rise at high rates. When these benefits were conceived decades ago, no one could have foreseen the explosive cost inflation that we have been experiencing in recent years. These costs are simply not sustainable.
alliance developed further global hard including product products profitable strengthen teams ways worked
Our teams worked hard to find profitable ways to further strengthen the Oldsmobile product line, including consideration of products developed with our global alliance partners,
brutally hot market north red
The North American market is red hot and brutally competitive,
bottom china covered market
China also is going well for us, particularly now that we have the market covered from the bottom to the top.
reach taken time
While it may have taken some time to reach this solution, I think it was time very well spent,