General Motors new incoming CEO, Dan Akerson, is shopping for a house in metro Detroit, a move that signals he’s going to stay a while and be close to the company’s Renaissance headquarters in downtown Detroit. Akerson, who currently resides in McLean Va, will make his Detroit-area home his primary residence, sources familiar with the matter said.
Outgoing CEO Edward Whitacre stayed in an apartment that was booked at the Westin Book Cadillac hotel and commuted from his home in San Antonio, Texas. His flying expenses were taken care of by his former employer, AT&T, who he had struck an interesting deal with before retiring from his CEO position.
Whitacre will relinquish his title as CEO to Akerson after being with GM for just 10 months. Akerson will step in on September first and will become the board’s chairman by the end of 2010.
– By: Omar Rana
Source: Free Press