Out with the old, in with the...old. Former AT&T, Inc. (NYSE: T) CEO Ed Whitacre, Jr. has been selected by the U.S. Government (how quaint) to lead the "new" GM once it rises from the ashes. Whitacre, who basically rebuilt AT&T into the telecom behemoth that was dismantled by the U.S. Government in 1984, will be in charge of re-surfacing GM's future road to glory.Whitacre is a shrewd executive with the global panache to get GM's ship in order. Whitacre, who won't go on the acquisition warpath like he did with AT&T, will be a newcomer to the automotive field, having spent the majority of his career in telecommunications. That's exactly what the Obama Administration wanted, though. They got it.
Like Ford Motor Co. (NYSE: F) CEO Alan Mulally -- formerly of Boeing Corp. -- choosing an outsider to reshape GM is not only the obvious decision, but absolutely required if GM is going to emerge once again as an automotive powerhouse.
What else is needed? Get rid of every single existing GM director and replace the entire board with outsiders. These are the folks that kept inept and sluggish leaders running GM into the ground in the last decade. While few of us are advocates of the U.S. Government running GM or picking executives to head the company, one thing is clear: the company needs a rehab from the board to all levels of management.
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Reader Comments (Page 1 of 1)
6-11-2009 @ 1:41AM
Dr. Dan said...
I wonder why they left out where he said:
“I don’t know anything about cars,” Whitacre, 67, said yesterday in an interview after his appointment.
I hope that the current administration is just completely incompetant, and not part of some greater conspiracy to dismantle and destroy this country.