Monday, October 09, 2006
Kerkorian pulls representative out of GM board
Kirk Kerkorian, General Motor’s key investor, has pulled his representative from the company's board following the collapse of the alliance talks with Renault-Nissan.
Jerome York resigned on Friday, criticising the GM board’s approach to the alliance and raising doubts about the company’s long-term outlook.
In his resignation letter York wrote: “I have grave reservations concerning the ability of the company's current business model to successfully compete in the marketplace with those of the Asian producers. I have concluded there is little point on my remaining on the board.”
DATED: 09.10.06
FEED: MT
Jerome York resigned on Friday, criticising the GM board’s approach to the alliance and raising doubts about the company’s long-term outlook.
In his resignation letter York wrote: “I have grave reservations concerning the ability of the company's current business model to successfully compete in the marketplace with those of the Asian producers. I have concluded there is little point on my remaining on the board.”
DATED: 09.10.06
FEED: MT
