General Motors Company’s board is looking for a “motivating, inspirational leader” individual to be its next CEO, said Ed Whitacre, chairman and acting CEO. Whitacre said that candidates for the position don’t have to be an existing CEO or have strong auto credentials.
“A person that’s a motivating, inspirational leader that’s familiar with big companies — manufacturing or industrial — would be helpful,” he told reporters today.
Separately, Whitacre said that the U.S. government’s pay restriction “absolutely” make it more difficult for the company to find a new CEO. He said that GM is having “ongoing conversations” with the government pay-czar Kenneth Feinberg.
Nonetheless, Whitacre said that pay restrictions won’t prevent the Detroit automaker from hiring a candidate it wants. “It”s about compensation but it”s also about a desire to lead the company,” Whitacre said.
– By: Stephen Calogera
Source: Automotive News (Subscription Required) and Free Press