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Board endorses direction of reorganized GM
Board endorses direction of reorganized GM
Posted Thursday, Aug 6, 2009, 3:37 pm in Employee News
GM’s board has endorsed the automaker’s direction and the focus of management after the first meeting of directors since GM emerged from a U.S. government-financed bankruptcy last month, Reuters reported.
A statement by the 13-member board issued on Tuesday capped a two-day meeting in Detroit where directors reviewed future product plans and discussed key decisions still facing GM, including the sale of its Opel brand, the news service said.
“With a clean balance sheet, a streamlined and stronger dealer network, and a flatter and more focused organizational structure, the new GM is well poised to return to viability and compete in the global market,” directors said in a statement issued by GM. “The entire board came away extremely impressed with the product lineup, and we are determined to act fast and drive the actions necessary to guide the new GM to success,” the statement said. (Reuters)
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