UPDATE: Just before going to D.C. GM Chairman and CEO Ed Whitacre will hold a press conference at the company’s Fairfax, Kansas Assembly Plant. General Motors’ CEO Edward Whitacre Jr. will make his first trip to Capitol Hill on Wednesday since taking the leading position at the Detroit automaker. Whitacre, who become permanent CEO of [...]
Ron Gettelfinger, UAW President, said today that he’s a fan of Sergio Marchionne, Chrysler’s new CEO, and Ed Whitacre Jr., CEO of General Motors. Gettelfinger said that he likes the CEOs because they aren’t a “showboat.” “They’re down to earth, not a showboat,” he said. “This industry has had too many showboats.” Gettelfinger, who is [...]
General Motors CEO Ed Whitacre said that the Detroit automaker expects to report “solid” operating results for the first quarter, which will show the company’s progress towards its goal of returning to profitability by the end of 2010. That goal of “profitability” will end a horrible 5-year streak of losses and mark a turnaround for [...]
General Motors CEO Ed Whitacre told employees in a letter that his overhaul of senior management at the automaker is now complete. “I want to reassure you that the major leadership changes are behind us,” Whitacre wrote in a letter that was obtained by Bloomberg. “The team we have in place today is the team [...]
General Motors Chairman and CEO Edward Whitacre said today that the company will pay back roughly $8 billion in debt to the United States and Canada before June, quicker than the Detroit automaker originally promised. In December, Whitacre said that GM would pay back its government loans by June. “I believe we’re going to beat [...]
After hearing an earful from lawmakers, General Motors dumped its corporate jets last year while in bankruptcy after flying top executives to Washington to ask for a federal loan. Well, GM’s brand new CEO Ed Whitacre still flies private thanks to his former employer, AT&T. Whitacre, 68, negotiated a sweet lifelong deal with AT&T before [...]
If you’re wondering why General Motors Chairman and CEO Edward Whitacre keeps shuffling around management at the Detroit automaker, the answer is pretty simple: Whitacre wants more sales now. Apparently Whitacre doesn’t care about watching PowerPoint presentations on how sales will improve next year and will keep shuffling around sales and marketing teams until he [...]
Newly appointed CEO of GM Ed Whitacre, will be compensated to the tune of $1.7 million per year in cash, and a stock package payable over three years beginning in 2012 that is valued at $5.3 million. Fritz Henderson, the ousted CEO that Whitacre was appointed to replace, will be retained as a consultant to [...]
Last week, General Motors announced that Ed Whitacre will continue on as Chief Executive Officer of the automaker. According to sources familiar with the situation, GM is working on developing an internal replacement for Whitacre in a couple of years. The source said that a search for a new CEO from outside GM failed. Insiders said [...]
As confirmed by Spyker earlier this morning, GM CEO Edward Whitacre confirmed during a press conference that there has been no deal on the sale of Saab. “As of today we have not changed our direction of winding down the operations (of Saab),” Whitacre said. “Obviously there have been advanced talks with Spyker Cars to [...]
