GM’s Dan Akerson gives self a “B” grade for his two-year exploits

Article by Anita Panait, on May 18, 2012

Dan Akerson has given himself a “B” rating for his two-year performance as chief executive officer of General Motors Co. The rating means, according to Akerson, that he is not satisfied yet with his performance. One of Akerson’s feat as GM’s CEO was overseeing the company’s rise to throne as the world’s top-selling carmaker, replacing Toyota Motor Corp. Another feat was to steer the company into posting a $9.19 billion net income in 2011. 

Akerson, however, acknowledged that more is needed to be done, saying he has too much work to do to think about retiring for at a year or two. GM’s chief executive said the company is aiming to increase profits and build on its "fortress" balance sheet. Akerson revealed that he is aiming to turn Chevrolet and Cadillac into global brands, thereby reaping profits from all regions of the world.

Akerson remarked that GM would give up its position as vehicle top-seller if this could make the company the most profitable carmaker.If that happens, it would greatly boost GM’s stock price, which has surged 35% since the company initial public offering in November 2010. In an interview with Bloomberg, Akerson said he wanted GM to be the No. 1 in profitability in terms of either aggregate or margins.

After spending three decades of work in the telecom and private industries, Akerson joined GM in 2009 as member of the board. He was then appointed chief executive in 2010 and was one of those responsible for holding GM’s IPO in November that year. Two into being GM’s top man, Akerson remains determined to make GM as profitable as possible, only in the short-term but in the long-term. [source: Autonews]

Topics: gm, dan akerson

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