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Marshall Goldsmith
Executive Coach/Author

Marshall Goldsmith

Marshall Goldsmith is an executive educator, speaker, coach and best-selling author. His most recent book is Mojo.

Every Right To Call the Shots

While getting rid of Rick Wagoner many not be the best or the only way to signal that dramatic change is inevitable, it is certainly one way!

In essence, the Unites States government and the taxpayers now own General Motors - and have every right to "call the shots." A CEO is never more powerful than an owner. It is naive to assume that anyone would "loan" tens of billions of dollars to a company with a market cap of 2-3 billion dollars and not expect control.

Rick Wagoner has been the CEO for a long time. It is hard to say that he has no responsibility for the condition of General Motors today. I don't believe that we can generalize from this case - and assume that removing the leader is always the right thing to do.

By Marshall Goldsmith

 |  March 30, 2009; 11:08 AM ET
Category:  Economic crisis Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati  
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It’s a BOD call – they have the fiduciary responsibility to the stockholders – not the government.

Posted by: joeschmid | April 1, 2009 10:14 AM
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LARRYG62 - do you wonder if the "bailout" idea has more to do with Democratic pandering to the UAW than a care for the Economy? After all, if the Bankruptcy Courts get this disposition the Unions will be decimated! And there will go all those lovely political contributions...

Posted by: kondrek | March 30, 2009 1:59 PM
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Sheer B.S. The government had no business bailing out GM in the first place. The incompetent in chief is throwing our tax dollars down the drain to bail out the goons at the UAW. Wagner hasn't done in GM all by himself, but you can bet your last dollar, that now with the feds in charge, led by the inept bozo Obama and his grad school eggheads, it'll be gone soon.
Imagine that, the dimwit actually seemed to believe that it's good for the government to be in the warranty business. I can't wait to see the green Yugo that Obama has in mind for them to sell.
What an imbecile.

Posted by: LarryG62 | March 30, 2009 1:34 PM
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