The former chief executive of telecoms giant AT&T, Edward Whitacre, has been given the task of getting the new GM on track when it re-launches following bankruptcy.
Whitacre, 67, enjoyed an excellent record with AT&T until he retired in 2007, and has been tempted out of retirement to take on the challenge at GM.
Speaking about his plans yesterday, Whitacre confessed: “I know nothing about cars. I think I can learn about cars. “A business is a business, and I think I can learn about cars. I’m not that old, and I think the business principles are the same.”
Whitacre added that he was tempted out of retirement when Treasury’s officials said: “We need your help. It’s a great company. You could be a lot of assistance to GM.”
It has been reported that Whitacre will take the post by 31 August, until which time the current interim chairman, Kent Kresa, will continue to manage GM.