The Ickey Shuffle
Tuesday, December 10, 2013
It concerns me that Ms Barra was an executive assistant to Jack Smith who promoted without merit and that she has been been shuffled on a fast track... obviously favored along the way. The last time we were surprised like this a little known finance fella, without even an accounting degree, leapfrogged other more experienced and knowledgeable executives to become CFO. His name was G Richard Wagoner and the then 39 year old evolved into Red Ink Rick. We all know how that worked out.
In that she was a colleague of Red Ink Rick, I smell trouble and potentially another bankster puppet. Conversely, maybe she learned something during that time. Well wishes and congrats are nice, now let's get down to work and fix the marketing. If our new CEO can accomplish that she will make history, otherwise her being the first female is a footnote.
Mr Akerson he should have been a dealer (I don't mean retail franchise) the way he shuffled executives like playing cards. His tenure has been marked by turmoil in house, the flight of top tier talent, an authoritative, dictatorial style that wasn't warranted or appreciated, and he governed the company deeper into the downward spiral in market share. He allowed the worthless and brand damaging marketing to continue and has left no meaningful accomplishment other than the fantasies we are given by the PR staff and an acquiescent media. So long and good riddance.
As to Mr Tolso, our incoming Chairman, this appears to be the announcement of the day... an independent, non executive chairman who is not interlocking with a bank. 66 isn't all that old for a Chairman, 2-4 years is plenty of time to chart course and arrive. Good luck sir, I'll be watching and pulling for you.
A separate Chairman and CEO has been a long time coming. This is a positive, as is the departure of Mr Girsky. Other than that, until the marketing is radically altered the results won't change much, just the excuses and org chart.
Mr Reuss, although more than likely slighted will remain at GM. He is the definition of a company man.
Mr. Amman, yes we still have the seemingly requisite Wall Street bankster, these dreadful creatures are worse than bed bugs! He can prove his value if he ditches Deloitte once and for all.
Lastly, the head of North America, Mr Batey... since he couldn't move Chevrolets in Europe he should have more time on his hands. Also, there is a difference between being no nonsense and rude. If he eliminates the hair brain, insane matrix incentive structure I'll believe things are different, and that includes all the behind the scenes stair-step stuff and the private "In Market Target Offers" that only the Godfather Gerosa's employer Al Serra seems to know about and cash in on. Audit that will ya? It's time to stop the games and get back to basics.
I doubt that any of this will matter much as time and market share go bye. Please, please prove me wrong!