Honda Motor Corp CEO replaced

[kdbolt70]

http://www.bloggingstocks.com/2009/0...waves-goodbye/

A majority of the article is a shot at the US auto makers for not replacing their CEO's, and blaming the downturn in profit on them. There are a lot of people out there eager for Wagoner's head, but to blame the economic woes entirely on him seems a bit ridiculous.

[Mr. Wyndham]

Chrysler and Ford have both replaced their CEOs as this situation started unfolding...Wagoner has indeed presided over the worst dump in value and stocks in GM's history. There are some who would blame that all on him (I wouldn't)...but he's also been responsible for the most dramatic changes within the company in decades. The kind of changes in direction GM needs right now...so loss of money or not, he's the guy for the job. If these folks can find someone better...then go ahead and replace him. Otherwise? Clamp it.

[PQ]

Originally Posted by Dragoneye

Chrysler and Ford have both replaced their CEOs as this situation started unfolding...Wagoner has indeed presided over the worst dump in value and stocks in GM's history. There are some who would blame that all on him (I wouldn't)...but he's also been responsible for the most dramatic changes within the company in decades. The kind of changes in direction GM needs right now...so loss of money or not, he's the guy for the job. If these folks can find someone better...then go ahead and replace him. Otherwise? Clamp it.

And besides, 1 dollar is pretty cheap.

[Blownhotrodder]

As a Chief Executive Officer you are the commander of the ship. You are the one who is responsible for that companys operation. Why do you think these guys make millions and millions of dollars with heafty benefits and stock options? Believe me, him working for $1 dont mean squat. Hes already got millions.

[RonC]

Originally Posted by Blownhotrodder

As a Chief Executive Officer you are the commander of the ship. You are the one who is responsible for that companys operation. Why do you think these guys make millions and millions of dollars with heafty benefits and stock options? Believe me, him working for $1 dont mean squat. Hes already got millions.

Who would want to take over and do what he does and put up with what he does for $1 a year? How long would a new man have to work and what would the condition of the company have to be in before he got a raise? I suspect there are not a lot of qualified auto exec's looking to take over that kind of responsibility. If Rick Wagoner and GM's board of directors believe he is the best person to do the job under their dire circumstances, it is their right to make that decision wether we like it or not, IMO. Time will tell if it was a good or bad direction.