Did President Barack Obama make the correct move when he forced out GM Chairman and CEO Rick Wagoner?

By PBN Staff
Posted 3/31/09

General Motors Chairman and CEO Rick Wagoner resigned Sunday, as a condition of the federal government’s continuing support for the troubled automaker.

Subsequent to his resignation, the administration gave GM 60 days to come up with a restructuring plan that it believes has a chance to succeed. (It also gave Chrysler 30 days to strike a deal with Italian automaker Fiat or be ineligible for additional federal funds.)

The move signals that President Barack Obama is taking a tougher stance toward the leaders of companies that are receiving government aid. But that begs the question, just how many American corporate chieftains will be forced to resign before the economic crisis is over?

PBN Hosted

Join PBN and two panels of successful female executives, business owners and entrepreneurs as we delve into what women should do to advance their careers, and become leaders in the corporate world and their own enterprises.
  • Book of Lists Party
    Save the date - January 15, 2015 for PBN's Book of Lists Party at the Providence ...
Purchase Data
Book of Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  • Purchase an e-File of the entire Book of Lists database
  • Purchase a printed copy of the Book of Lists
    Latest News