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The personality in the limelight of the auto industry at present is the CEO of the world's largest manufacturer of automobiles, G. Richard Wagoner, Jr., General Motors Chairman and Chief Executive Officer.
Rick Wagoner draws the attention of, and inspires confidence in the stakeholders of GM, even during the tough times the US auto industry is faced with. The WSJ reports that the lead independent director of the company, George Fisher thinks that Rick “has a winning formula despite recent setbacks that recently pushed GM's share price to a 26-year low and its market value to below $10 billion.”The Beginnings
After he earned his MBA from Harvard in 1977, he joined GM the same year as an analyst in the Treasurer's Office in New York. During this time he earned several promotions before he earned the position of a treasurer of GMB (General Motors do Brasil) in São Paulo. Three years past his work as a treasurer he became the executive director of finance for GMB in 1984.
GM Canada
The position of being the vice president and finance manager at GM Canada Limited was his next stop in 1987. Only a year had passed after his stay in Canada and in October 1988, he became group director, strategic business planning, for the erstwhile Chevrolet-Pontiac-GM of Canada Group.
GM EuropeGM Europe beckoned him next, where he served as the vice president in charge of finance for General Motors Europe, Zurich, Switzerland, from 1989 till 1990. However, it seems that General Motors do Brasil's (GMB) affinity attracted him again where he worked as the president and managing director of General Motors do Brasil from 1991 till 1992.
He spent the tenure from 1992 through 1994 as the executive vice president and chief financial officer with an added responsibility to manage GM's worldwide purchasing from 1993 onwards during the same period.
Homecoming To North America
He continued his stint as the executive vice president of GM and took an
additional role of being the president of North American Operations since 1994. After four years in these positions and after achieving profitability for the division by effectively curtailing manufacturing costs, he was elected as the President and Chief Operating Officer (COO) in 1998. Two years later in 2000, Wagoner became the youngest CEO (at 47) in GM's history, and in 2003 earned the title of chairman.Wagoner is well known for bringing in top talent to the company from outside, and this practice wasn't a norm for GM till Wagoner started it. His first hire was Steve Harris senior vice president of communications at DaimlerChrysler, whom he persuaded to join GM in 1999.
Now 55, and married to Kathleen "Kathy" Kaylor since 1979, Wagoner has three
adult children. He was born in Wilmington, Delaware, and raised in Richmond, Virginia. When he went to college at the Duke University he discovered his liking for numbers. Encouraged, he went on to graduate in economics. However, this wasn't his original plan, as after playing for the Blue Devils basketball team he wanted to pursue the game professionally!Wagoner is known to keep personal and professional lives separate and balanced.
3 comments:
I have always been resentful of automakers creating the unforgivable SUV which pushed North Americans over the edge in selfish, decadent, conspicuous consumption, and shameless waste, while devouring responsible motorists' share of resources. It is sad that it had to come to this before the automakers took note!
I hear Wall Street wants GM to cut down from the 8 brands it has. I would ask Rick to tell Wall Street to get lost! It is not the brands that are causing the problem - the problem is the pathetic SUV (across all 8 brands) and the good-for-nothing monstrosity called the Hummer.
I wish all automakers would tap into the retro, nostalgic market and bring out more vehicles reminiscent of the good old says. I say, dust up those old models and bring them back. The Mustang and PT Cruiser are two instant successes that come to mind. It can also be psychological - people love being reminded of a kindler, gentler, more care-free time.
Hi Anon!,
I often come across equally fiery resentment against car makers thinking small once again.
You rightly say that tapping "into the retro, nostalgic market," indeed makes a lot of sense. But then let's not surprise ourselves if the same market compels them to think SUV another time. BTW, that doesn't seem to be happening anytime soon.
And I loved "being reminded of a kindler, gentler, more care-free time." :-)
Fred
Interesting article , this article make some interesting points.
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