Abstract
On April 6, 1992, the GM board of directors demoted president Lloyd E. Royce (then 55) to the non-director position of executive vice president. He was replaced by vice president John F. “Jack” Smith, Jr. (54), architect of the successful reconstruction of GM Europe, who was also given the post of COO (chief operating officer). Chairman Robert C. Stempel (58) stayed on but was replaced as head of the Executive Committee by an outside director, John G Smale (64). Chief financial officer (CFO) Robert T. O’Connell (53) became chairman of GMAC, the sales and financing arm, and replaced as CFO by William E. Hoglund (57), previously in charge of the parts group. The abrupt announcement was described in the media as a coup d’etat by outside directors.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 1998 Springer-Verlag Tokyo
About this chapter
Cite this chapter
Kawahara, A. (1998). The Rebirth of GM. In: The Origin of Competitive Strength. Springer, Tokyo. https://doi.org/10.1007/978-4-431-68419-0_7
Download citation
DOI: https://doi.org/10.1007/978-4-431-68419-0_7
Publisher Name: Springer, Tokyo
Print ISBN: 978-4-431-68421-3
Online ISBN: 978-4-431-68419-0
eBook Packages: Springer Book Archive