Rick Wagoner
Rick 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...
NationalityAmerican
ProfessionBusinessman
Date of Birth9 February 1953
CountryUnited States of America
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We would welcome a more proactive role from elected officials at the national and state levels in broad-based strategies to address the U.S. health care crisis.
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We're pleased to see the significant progress in our first quarter results and in the implementation of all four elements of our North American turnaround plan.
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With the ongoing globalization of GM's product development organization, and the implementation of our global architecture strategy, Bob felt he needed to devote his efforts to product development full time, and I agreed, ... Bob's legacy at GM will be in our future cars and trucks. It makes sense for him to devote his full energies to that critical task.
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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.
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Today we are announcing a significant update on our plan to address our health-care burden, which is the cornerstone of our efforts to reduce structural costs by a $5 billion (US) run rate by the end next year.
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We are disappointed with our own sales and market share results so far this year,
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When you're buying a car it's a very different thing. It's a massive financial commitment. You expect to own it for a long time, and (bankruptcy) is something that's going to have an impact in the consumer's mind.
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We disagree with Delphi?s approach, but we anticipated that this step might be taken. GM expects Delphi to honor its public commitments to avoid any disruption to GM operations.
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We believe by being sensitive to the balancing act these women face each day, we're increasing their commitment to General Motors. It's not only the right thing to do, it's also good business for GM and helps us retain the brightest, most capable workers.
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The decisions we are announcing today were very difficult to reach because of their impact on our employees and the communities where we live and work. But these actions are necessary for G.M. to get its costs in line with our major global competitors.
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Over the last nine months we have been aggressively implementing our North American turnaround plan.
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A lot of other things come along with Chapter 11, which basically end up in a lot of pain.
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All of our business units except GM North America are on or above track, and that has the extreme attention of us all. Progress is moving in the right direction ... but we still have more work to do.
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There's been a consistency of approach and a consistency of execution. Moving to a common system and common metrics has really helped us.