June 10 (Bloomberg) — Edward E. Whitacre Jr. built AT&T Inc. into the biggest U.S. provider of telephone service over a 43-year-career. By his own admission, he becomes chairman of General Motors Corp. knowing nothing about the auto industry.
The 6-foot-4-inch Texan nicknamed “Big Ed” said steering the nation’s largest automaker after bankruptcy is “a public service.” People who know him say he can meet GM’s need for the type of transformation he orchestrated at Dallas-based AT&T.
“I don’t know anything about cars,” Whitacre, 67, said yesterday in an interview after his appointment. “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 is “well qualified” for the GM post, the (US) Treasury said in a statement.
The classical problem with filling any position is that the person most qualified to occupy it is the person who is leaving it.
Good reason to NOT BUY any of the “New GM” stock – if ever it goes public !!!
#32, <i>So if WE own part of GM why don’t WE get to vote for CEO?</i>
You do. He’s called POTUS.
Uh, oh. My text editor is right aligned again.
I am waiting for the On-Star messages to reflect the quality telco service I currently enjoy…
“This vehicle is no longer in service, if you feel you have reached this message in error please hang up and try again”