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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While this sounds like a large number, we recognize that it only goes part of the way we need to go to put GM North America in the fully competitive position that is necessary to maintain and enhance our future viability and growth.
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The recent discovery of prior-year accounting errors has been extremely disappointing and embarrassing to all of us. Credibility is paramount, for GM as a company and for me personally.
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Stan O'Neal has been a great asset on the GM Board and to General Motors management over his 5 years of service as a director. We are grateful for his many positive contributions to General Motors and wish him the best.
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I was willing to go just about anywhere in the U.S. for the best job - except New York City. Of course, I received a job offer from GM - in New York City.
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Jerry brings years of business experience and knowledge of the automotive industry to the GM board. We are pleased to welcome him to our Board.
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Given the challenges we face in North America, it makes sense for me to assume control of GM North America's day-to-day operations and shorten the lines of communication and decision-making,
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GM had some notable sales successes as we continued to expand in key growth markets around the world in 2005.
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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 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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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.
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Despite some speculation to the contrary, we at GM are still moving. In fact, we're taking some big steps to get moving fast in the right direction.
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In his current assignment, Mike has led the team that has helped GM gain back market share in California. He's built strong relationships with dealers and employees in creating marketing initiatives, all of which should prove especially useful as we focus on additional key markets where we need to improve GM's performance.
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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.