BREAKING: Ed Whitacre Stepping Down From GM CEO September 1st

[Russell James]

a telecom guy?

maybe we'll be able to walkie-talkie between Camaros.

[1bad65]

Originally Posted by ViperTomcat

Hm..

Not so thrilled with his track record..

Apparently GM's Board of Directors are though.

Give the guy a break, he's only ran one company into bankruptcy so far.

[ViperTomcat]

Originally Posted by 1bad65

Apparently GM's Board of Directors are though.

Give the guy a break, he's only ran one company into bankruptcy so far.

Is that all?

I for one welcome our new previous failure overlords

[Justin]

He did an AMAZING job at Nextel though, and Whitacre's track record certainly isn't without flaw either. He led SBC through the AT&T and BellSouth mergers and network cost-cutting measures that have led to the countless issue's with AT&T's wireless network.

[Brokinarrow]

Originally Posted by Justin

He did an AMAZING job at Nextel though, and Whitacre's track record certainly isn't without flaw either. He led SBC through the AT&T and BellSouth mergers and network cost-cutting measures that have led to the countless issue's with AT&T's wireless network.

When I first heard whitacre was going to become CEO at GM i was dreading the possible outcomes. I think he has everything moving in the right direction now though.

[a_Username]

Did Whitacre give any reason for his leaving the company? I seriously hate to see such a good leader such as this go.

[Supercharged2SS]

I am surprised no one has brought up the fact that the current CEO of GM is stepping down, and I guy from outside the business (Carlyle, private equity) is stepping in. Will streamline and shrink the company. I will say I am a bit concerned about the future growth of the Camaro, specifically anything beyond the 2011 model year, including the Z28....

[Mr. Wyndham]

Originally Posted by Supercharged2SS

I am surprised no one has brought up the fact that the current CEO of GM is stepping down, and I guy from outside the business (Carlyle, private equity) is stepping in. Will streamline and shrink the company. I will say I am a bit concerned about the future growth of the Camaro, specifically anything beyond the 2011 model year, including the Z28....

I wouldn't worry too much about THAT...Whitacre (current CEO) was outside of the Industry as well...seeking to shrink and streamline. Same goals....I'm more curious what's with all the hot-potato CEOs, lately....I hope this guy has a head on his shoulders and stays for more than a few months....

EDIT: I moved the thread and here's the article link:

[SSLarry]

Originally Posted by Supercharged2SS

I am surprised no one has brought up the fact that the current CEO of GM is stepping down, and I guy from outside the business (Carlyle, private equity) is stepping in. Will streamline and shrink the company. I will say I am a bit concerned about the future growth of the Camaro, specifically anything beyond the 2011 model year, including the Z28....

Cancelling the G8 and Solstice (along with the whole Pontiac division) may have been the dumbest thing GM has ever done. They could have phased out the division and folded those cars into Chevy, for example. Imagine 3 Chevy convertible coupes for all price points.

But I don't think any CEO will get rid of a profitable car like the Camaro. That would be even dumber.

[a_Username]

Originally Posted by Supercharged2SS

I am surprised no one has brought up the fact that the current CEO of GM is stepping down, and I guy from outside the business (Carlyle, private equity) is stepping in. Will streamline and shrink the company. I will say I am a bit concerned about the future growth of the Camaro, specifically anything beyond the 2011 model year, including the Z28....

http://www.camaro5.com/forums/showthread.php?t=100157

Just saying...

[HeatherR]

Originally Posted by a_Username

Did Whitacre give any reason for his leaving the company? I seriously hate to see such a good leader such as this go.

He really doesn't want the job, and that was what he said when he took it. I really hate to see him go too.

The Free Press is reporting that the board wanted him to commit to a time frame to stay on after the IPO and he would not, so they replaced him in anticipation of the IPO that is coming soon...

[d69chris]

The word is he made a statement at an industry show that "being know as GM - "Government Motors" was hurting sales. It is thought that he was asked to leave by the Obama administration.

Bad timing when you have an IPO coming out, but the government has never really been that smart when it comes to business matters. Instability at the top does not breed confidence in the market.

[a_Username]

Well that's the best reason to leave. If he doesn't want the job, then he simply doesn't want the job. I wonder if he worried about his reputation, rather or not this reputation was misguided or not, enough to leave? I'm sure there are many reasons, but hopefully this Akerson can get us through the IPO with flying colors.

[Mr. Wyndham]

Originally Posted by d69chris

The word is he made a statement at an industry show that being know as GM (Government Motors) was hurting sales. It is thought that he was asked to leave by the Obama administration.

Bad timing when you have an IPO coming out, but the government has never really been that smart when it comes to business matters.

Originally Posted by a_Username

Well that's the best reason to leave. If he doesn't want the job, then he simply doesn't want the job. I wonder if he worried about his reputation, rather or not this reputation was misguided or not, enough to leave? I'm sure there are many reasons, but hopefully this Akerson can get us through the IPO with flying colors.