Congressional calls for the replacement of General Motors Corp. CEO Rick Wagoner as part of the government's loans to the troubled automaker have prompted speculation in the media and blogosphere about who might replace him. The Wall Street Journal speculated earlier in the week that Nissan Motor Co. Ltd. and Renault chief Carlos Ghosn is a good bet given his track record of quickly turning around Nissan earlier in the decade -- and a speedy recovery is a key provision of the bailout bill. Others suggest an internal GM choice such as COO Fritz Henderson, but Washington may not find that idea very palatable. So who else might receive the calls?
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Fortune has a few names to consider, including
- Robert Lane, chairman of Deere & Co.
- John G. Rice, vice chairman of General Electric Co. and president and CEO of GE Technology Infrastructure
- Sergio Marchionne, CEO of Fiat SpA
The suggestions of Lane and Rice are akin to Ford Motor Co.'s decision to tap former Boeing Co. chief Alan Mullaly, and Chrysler LLC's choice of former Home Depot Inc. chief and GE veteran Bob Nardelli. Both are not automotive insiders, and therefore in theory bring fresh thinking to the circumstance, giving them a potential leg up over Ghosn and Marchionne. Also, Rice is a particularly interesting choice because, like Nardelli, he is a disciple of turnaround king Jack Welch, who, by the way, is a rumored auto czar candidate. Additionally, outsiders with experience dealing with government contracts -- a GE vet probably has some experience with -- may help a new GM chief when dealing with the so-called auto czar, who will oversee the government bailout.
Nonetheless, automotive insiders Ghosn and Marchionne have proven track records of turning around troubled automakers, making them strong candidates. Additionally, as some automotive bloggers suggest, Marchionne has experience managing multiple brands (Fiat in addition to its namesake brand makes Maserati, Ferrari, Alfa Romeo and Lancia) and keeping them relatively unique. Someone who can help GM revitalize its desperate brands would be a perfect candidate. Plus, Marchionne might instill some excitement not only into the cars, but for car enthusiasts, as Fortune notes: "A year ago, Marchionne crashed his private Ferrari 599 GTB on a highway in Switzerland but walked away unscathed. That sounds very un-GM-like but perhaps that's exactly the kind of joie de vivre that GM needs."
Now that's "driving excitement." - Matthew Wurtzel
