So What Happens When The Government Takes Over A Company? You Get A Chairman Who Doesn’t Know The Business Of Course.
Posted by Casey on June 10, 2009
|Edward E. Whitacre Jr. built AT&T
Inc. into the biggest U.S. provider of telephone service over a
43-year-career. By his own admission, he becomes chairman of
General Motors Corp. knowing nothing about the auto industry.
The 6-foot-4-inch Texan nicknamed “Big Ed” said steering
the nation’s largest automaker after bankruptcy is “a public
service.” People who know him say he can meet GM’s need for the
type of transformation he orchestrated at Dallas-based AT&T.
“I don’t know anything about cars,” Whitacre, 67, said
yesterday in an interview after his appointment. “A business is
a business, and I think I can learn about cars. I’m not that
old, and I think the business principles are the same.”
There are many positions that you can effectively do without knowing your industry … chairman isn’t one of them.
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