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The BBC reported that
Wagoner was popular among GM employees and reporters. However, it cites that he lacked the "ruthless streak needed to make the tough decisions required to bring GM back from the brink of bankruptcy." While analysts have praised Wagoner for operational improvements, cost-cutting
342:
On March 29, 2009, Wagoner agreed to immediately resign his position as GM chairman and CEO, as part of the Obama administration deal to provide GM with further short-term financing. The following day, the US government rejected GM's initial restructuring plan and gave the company 60 days to come
338:
to oversee product execution, others criticized him for his incremental approach to change, largely as he resisted making the drastic cuts demanded by the US government. Throughout the first months of 2009, Wagoner argued that a bankruptcy would be more costly than a government bailout. However,
307:
and GM North
American President Gary Cowger in light of its poor performance. In early June 2005 Wagoner announced that GM in the United States would close several plants and shed 25,000 employees (17% of GM's U.S. workforce) by 2008. The cuts will result in GM production reducing output by one
350:
After 32 years at GM, Wagoner retired with an exit package of over $ 10 million: $ 1.65 million in benefits per year for his first five years of retirement, $ 74,030 per year pension for the rest of his life, and a $ 2.6 million life insurance policy that can be cashed out at any time.
319:. During the latter half of 2008, Wagoner and GM maintained that bankruptcy was "not an option that GM is considering," despite rapidly running out of capital. This stance was called "presumptuous" by some observers. Within 9 months, GM was to declare bankruptcy.
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In 1992, he was named GM's chief financial officer, in 1994 he became executive vice president and/or president of North
American Operations, and in 1998 he was named president and chief operating officer.
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Wagoner became president and Chief
Executive Officer in June 2000 and was elected chairman on May 1, 2003. Under his leadership, GM suffered more than $ 85 billion in losses.
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were criticized for flying to
Washington, D.C. in corporate jets. For a subsequent meeting, the three CEOs drove from Detroit to Washington by hybrid cars.
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there remained lingering doubts that he was implementing the restructuring moves necessary to remain viable in the future without further government loans.
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315:, Wagoner came under renewed pressure as GM sought financial support from the U.S. government in an attempt to avoid
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In April 2005 Wagoner took back personal control of GM's North
American car division from GM North American chairman
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forced GM "back to basics" to battle "30 years of management mistakes" that left him with little room to maneuver.
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of GM went down by more than 90% and the company lost more than US$ 82 billion. He is a board member of
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After GM lost $ 30 billion during a single three-year stretch in the early 1990s, Wagoner and chairman
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After
Harvard, he joined GM as an analyst in the treasurer's office. In 1981, he became treasurer of GM's
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156:. The latter part of Wagoner's tenure as CEO of General Motors found him under heavy criticism as the
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144:(born February 9, 1953) is an American businessman and former chair and chief executive officer of
648:
507:"The General Motors CEO who killed the original electric car is now in the electric car business"
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290:
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103:
806:
Ford's PR campaign: CEO Alan
Mulally drives to hearings (no corporate jet), promises $ 1 salary
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there, where he was named "Best All Around" student in his graduating class. He received a
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In an interview, Wagoner stated that the worst decision of his tenure at GM was "axing the
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223:, Detroit Renaissance Executive Committee, and the Secretary of Energy Advisory Board.
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219:, and the board of directors of Catalyst. He is a member of The Business Council, The
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823:
404:"General Motors Chief Rick Wagoner Said to Step Down (Update3) - Bloomberg L.P."
300:. "It didn't affect profitability," Wagoner claimed, "but it did affect image".
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with a new proposal or be forced into bankruptcy. He was replaced as CEO by
322:
During hearings for government loans to the Big Three
Automakers, Wagoner,
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587:
334:
moves and an increased focus on vehicle quality, with the appointment of
275:
347:, who had been serving as GM's President and chief operating officer.
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232:
614:"Rick Wagoner 1953— Biography – An uphill battle, Early years at gm"
253:
965:"Ex-GM CEO Wagoner invests in Silicon Valley car service startup"
354:
In 2017, Wagoner was appointed a director at ChargePoint Inc., a
197:
207:
fraternity. Wagoner is a member of the boards of trustees of
1163:
Duke
University Trinity College of Arts and Sciences alumni
992:"Former GM CEO Rick Wagoner Invests In New Startup Company"
780:, "New York Times", July 15, 2008. Retrieved 25 April 2010.
940:"Former GM CEO Rick Wagoner Wades Back Into Car Business"
481:"General Motors bankruptcy: End of an era - Jun. 1, 2009"
877:"GM's Waggoner forced out as automakers' plans rejected"
812:(New York), December 2, 2008. Retrieved 4 December 2008.
358:
company that makes electric-vehicle charging stations.
308:
million cars and trucks (from 6 million to 5 million).
1029:
Rick Wagoner speaks about electric cars at GM in 2008
427:
Stolberg, Sheryl Gay; Vlasic, Bill (March 30, 2009).
1158:
American chief executives in the automobile industry
459:"GM CEO Wagoner to step down at White House request"
129:
114:
90:
82:
53:
34:
235:subsidiary and later served as managing director.
200:in 1977. He is married and has three adult sons.
705:"Why Toyota Is Becoming the World's Top Carmaker"
296:program and not putting the right resources into
164:, an electric vehicle infrastructure company.
8:
1024:Rick Wagoner's speaks on GM's India strategy
796:, December 8, 2008. Retrieved 25 April 2010.
871:
869:
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754:"Chief of G.M. Takes Control of Operations"
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148:. Wagoner resigned as chairman and CEO at
42:
31:
361:in 2018, Wagoner made an investment into
203:While at Duke, he became a member of the
152:on March 29, 2009, at the request of the
1173:Businesspeople from Wilmington, Delaware
914:"Ex-GM CEO Gets $ 10 Million Retirement"
532:"GM Learns The Price Of Federal Funding"
380:General Motors Chapter 11 reorganization
390:
375:Automotive industry crisis of 2008–2009
1178:Businesspeople from Richmond, Virginia
215:, the Board of Dean's Advisors of the
990:Szymkowski, Sean (October 10, 2018).
903:, "Huffington Post", August 14, 2009.
313:Automotive industry crisis of 2008–10
7:
822:Anderson, Richard (March 30, 2009).
778:More Cuts Expected at General Motors
901:Rick Wagoner Gets Over $ 10 Million
647:. February 10, 2003. Archived from
429:"White House Pushes Out G.M. Chief"
852:"GM chief Wagoner ousted by Obama"
824:"End of the road for Rick Wagoner"
703:Naughton, Keith (March 11, 2007).
25:
1198:American chief operating officers
1188:People in the automobile industry
731:"Big Three face bankruptcy fears"
729:Isidore, Chris (August 6, 2008).
142:George Richard "Rick" Wagoner Jr.
938:Stoll, John D. (April 6, 2017).
182:John Randolph Tucker High School
790:In Defense of GM's Rick Wagoner
669:"Interview With Rick Wagoner,"
120:Formerly chairman & CEO of
1183:Harvard Business School alumni
752:Hakim, Danny (April 5, 2005).
558:"Error – LexisNexis Publisher"
1:
196:, from which he received an
1214:
673:magazine, June 2006, p. 94
639:"Rick Wagoner's Game Plan"
213:Detroit Country Day School
192:in 1975. He then attended
58:George Richard Wagoner Jr.
1193:General Motors executives
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1034:August 10, 2013, at the
1019:Rick Wagoner's biography
689:October 7, 2011, at the
618:referenceforbusiness.com
244:John F. "Jack" Smith Jr.
258:Wagoner with President
250:Chief Executive Officer
217:Harvard Business School
194:Harvard Business School
18:G. Richard Wagoner, Jr.
644:Bloomberg BusinessWeek
283:
854:. BBC. March 30, 2009
257:
180:. He graduated from
174:Wilmington, Delaware
172:Wagoner was born in
168:Family and education
75:Wilmington, Delaware
48:Rick Wagoner in 2004
27:American businessman
1135:Frederick Henderson
1107:Frederick Henderson
1053:Business positions
562:www6.lexisnexis.com
221:Business Roundtable
758:The New York Times
568:on October 5, 2017
433:The New York Times
284:
188:in Economics from
178:Richmond, Virginia
104:Harvard University
1141:
1140:
1132:Succeeded by
1117:John F. Smith Jr.
1104:Succeeded by
1089:John F. Smith Jr.
1076:Succeeded by
1061:John F. Smith Jr.
971:. October 9, 2018
682:Canadian Driver,
651:on April 16, 2003
594:. August 27, 2012
588:"Board Diversity"
262:, Vice President
139:
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134:John F. Smith Jr.
16:(Redirected from
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328:Robert Nardelli
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209:Duke University
205:Delta Tau Delta
190:Duke University
176:and grew up in
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1001:December 16,
999:. Retrieved
996:GM Authority
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763:December 14,
761:. Retrieved
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735:. Retrieved
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653:. Retrieved
649:the original
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592:catalyst.org
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570:. Retrieved
566:the original
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540:. Retrieved
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436:. Retrieved
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363:YourMechanic
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294:electric car
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272:Alan Mulally
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36:Rick Wagoner
29:
1153:1953 births
1041:Appearances
975:January 30,
923:January 30,
671:Motor Trend
655:January 15,
490:January 30,
280:Tom LaSorda
264:Dick Cheney
162:ChargePoint
154:White House
130:Predecessor
125:(2000–2009)
118:Businessman
83:Nationality
1147:Categories
1129:1998–2008
1101:2000–2009
1079:Kent Kresa
1073:2003–2009
886:October 4,
858:October 4,
810:Daily News
623:October 4,
598:October 4,
572:October 4,
516:October 4,
465:October 4,
438:October 4,
386:References
317:bankruptcy
64:1953-02-09
881:USA Today
542:April 17,
1032:Archived
828:BBC News
794:HuffPost
709:Newsweek
687:Archived
461:. Yahoo!
369:See also
336:Bob Lutz
305:Bob Lutz
276:Chrysler
86:American
1095:CEO of
833:May 22,
311:In the
298:hybrids
282:in 2006
1045:C-SPAN
536:Forbes
511:Quartz
274:, and
233:Brazil
733:. CNN
1003:2019
977:2020
951:2019
925:2020
888:2017
860:2017
835:2010
765:2016
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716:2016
657:2008
625:2017
600:2017
574:2017
544:2009
518:2017
492:2020
467:2017
440:2017
326:and
278:CEO
270:CEO
268:Ford
77:, US
54:Born
1043:on
944:WSJ
291:EV1
198:MBA
108:MBA
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