GM’s Akerson wants executive pay restrictions relaxed

Dan Akerson - CEO of General Motors

In a bid to remain more competitive and retain talent, GM CEO Dan Akerson said that the company will seek some leniency with regard to government imposed executive pay restrictions.

“We have to be competitive and retain talent,” Akerson said in response to a question at the Economic Club of Washington, D.C. “We’re starting to lose them now.”

Under Akerson, GM held its successful IPO, by which the government was able to divest itself of almost half of its stake in the company. The CEO said that investors now see a new company; one with improved cash flow and earnings, and one that well-positioned for huge growth potential in the emerging markets of China, India, and Brazil.

– By: Stephen Calogera

Source: Automotive News (Subscription Required)