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
We are very pleased with the market's reaction to our launch products. In the first three months of the year, our new products accounted for about 30 per cent of our total sales ? more than double where we were a couple of years ago.
I've taken a significant pay cut this year, ... I think I'll have a 50 percent pay cut.
This has been a difficult period for all of us at GM but I'm confident that by working together we can and will get through this,
While our 'pay-for-performance' executive compensation system is already structured to significantly reduce total compensation when our business performance and stock price are underperforming, we all agreed that this is the right step to take at this time.
Our financial performance continues to be quite disappointing,
That's because a couple products represent a larger percentage of the total at Chrysler than at GM. That can be an advantage and a curse, in terms of sales going up or down based on the results of a couple cars.
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.
I'm like Sergeant Schultz, I know nothing. We are trying to share ideas around the world. We don't just come up with a great idea in Brazil and ignore it in the rest of the world.
It's not an easy decision. We don't have many plants that aren't high quality and very productive.
Everybody's got a piece of it. What we're trying to do is look at each piece and say, 'Where are we really uncompetitive versus the people we run against?'... If we're out of line, that's what we need to work on. So, it may not be exactly the same sacrifice everywhere, but I think just about everybody's got a piece of it.
The big and the fast beat the small and the fast. If you check out the NBA today, they're big and fast.
The automotive market in North America remains very competitive, and our results reflect that, ... Improving market share and profitability remain an important priority.
There was an almost an 80% decline one year from 640,000 vehicles to 200,000, and now it's grown back. Our share has grown a lot.
This is a very big step forward that we will build on, ... the single biggest cost reduction that we've probably been able to announce in a single day in the history of G.M.