BREAKING: GM’s CEO Wagoner Steps Down at Obama Request/Demand
I’ve been calling for Wagoner to resign for years. I wish GM’s board had made this demand long ago, but the board has been packed full of cronies and failed CEO’s (Compaq and Kodak). They were never going to hold Rick accountable.
Normally, I’d be pretty distressed about the President asking the head of a private company to step down. But, if you’d like to avoid that, I guess you can run your business in a way that allows you to avoid government handouts.
The king of excuses and blame is gone. Will the new CEO continue blaming everything and everybody or will he or she move forward in fixing the company? Is it fixable? Would anyone want the job?