The Exodus Has Begun.
General Motors’ parts purchasing chief, Bo Andersson, has announced he’s leaving the bankrupt automaker to “pursue other career opportunities,” words that, in corporate-speak, usual mean someone has been pushed out of the airplane, with or without a golden parachute.
“Bo has made tremendous contributions to the development of our global purchasing and supply chain strategy as we’ve globalized our product line portfolios and manufacturing footprint,” said GM CEO Fritz Henderson, of the 53-year-old Andersson, who joined the automaker through its Swedish Saab subsidiary, in 1987.
Henderson has also noted, in recent days, that he is working up a list of management changes he hopes to implement, in the weeks to come, as General Motors works its way through the bankruptcy courts, where it tossed its fate on June 1st.
One of the most significant personnel changes was announced on June 9th, when Edward Whitacre, Jr. signed on as the troubled maker’s new chairman, replacing Ken Kresa, the board member who’d been holding that position on an interim basis since the firing of Rick Wagoner by the White House, in late March. Kresa had made it clear he was not seeking to stay in the chairman’s post.
There is expected to be a wholesale housecleaning among the board of directors when the “new” GM emerges from Chapter 11, optimistically within 60 to 90 days of its filing. The White House has made no secret that it is playing an active role in the search for replacement directors, even though President Obama maintains the position that his administration will not be playing an active role in day-to-day GM management since that’s what the new directors will do. (more…)