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
addressing chronic move quickly
We've got to move more quickly in addressing these challenging, chronic structural-cost issues,
addition addressing biggest burden challenges close due equitable fair gary government high ideal lack legacy ongoing requires union united united-states work
One of our biggest challenges is our lack of cost-competitiveness in the United States, which is due to our legacy costs, especially the ever-increasing burden of high health-care expenses, ... Addressing this challenge in a fair and equitable way requires close work with our union partners, in addition to our ongoing work with government and health-care providers. Gary is the ideal person to do this.
address care elected health levels national officials proactive role state strategies welcome
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.
address announcing billion costs efforts health next plan rate reduce run structural today update
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.
address aspects cash executing flow focused integrated issues laid north operations positive priority quickly rapidly restore strategy structural top turnaround
GM's top priority is to restore our North American operations to profitability and positive cash flow as quickly as possible. In 2005, we laid out a comprehensive and integrated strategy to address the structural issues that impede our competitiveness and profitability, and we are focused on rapidly executing all aspects of the turnaround plan.
actions address basis costs financial further global gm good implement improve line moving north order position quickly reduce results several sight steps structural weaknesses
In order to improve financial results in 2006 and 2007, we are moving quickly to implement several important actions that will address these weaknesses in North America. And we have a good line of sight on the steps we need to take to further reduce structural costs on a global basis that will position GM for long-term success.
cut pay percent taken
I've taken a significant pay cut this year, ... I think I'll have a 50 percent pay cut.
bold designed further gm improve position step success transition
These bold initiatives are designed to immediately improve our competitiveness and position GM for long-term success and today's transition is a further step in that direction.
competition continues demand efforts eliminate industry intensely lower mixed pressures price reinforce results step strong territory venture waste
These results reinforce the need to step up our efforts to eliminate waste and lower costs, ... The industry continues to venture into new territory -- near-record demand mixed with unprecedented price pressures and intensely strong competition on all fronts.
reach taken time
These negotiations were done in a positive, cooperative, problem-solving spirit, ... While it may have taken some time to reach this cooperative solution, I think it was time well-spent.
area asia fastest growing markets ups
These markets are going to grow. They're going to have their ups and downs, just like the American market. But Asia will be the fastest growing area of the world.
actions costs global gm line major necessary
These actions are necessary for GM to get its costs in line with our major global competitors,
actions costs global line major necessary
These actions are necessary for G.M. to get its costs in line with our major global competitors.
There's pressures, of course, but I actually feel energized by the challenge.