So General Motors springs a surprise by announcing its first female global CEO in the form of Mary Barra to replace outgoing Dan Akerson and already the new boss – well from January at any rate – is going to have an extremely busy in-tray.
You could argue Akerson is leaving a pretty healthy ship for Barra to steer, having seen the US Treasurer finally exit its holding in GM and leaving the American taxpayer with ‘just’ a $10bn loss on its initial $49.5bn bailout.
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I say just although arguably the benefits of keeping vast squadrons of staff employed, not to mention paying corporation and personal tax payments, far outweigh a mere ten billion or so and that’s before even the potential engineering flight that might have resulted, is taken into account.
But as well as Barra’s unveiling – a move widely welcomed given her shop-floor engineering and familial auto background – the other announcement that will surely cause a few ripples across the European side of the pond – is the news vice chairman corporate strategy Steve Girsky is to depart GM for pastures unknown next April.
The amiable but steely Girsky led the Detroit’s automaker’s efforts to turn around Opel in Europe and perhaps now – with rationalisation secured at Bochum and Antwerp as well as a new if unidentified model revealed for Russelsheim – he feels the time is right to move on.
If so, it would appear the European automaker might be somewhat down the agenda on Barra’s immediate ‘to do’ list and she may well prefer to leave the manufacturer in the capable hands of Opel CEO, Karl-Thomas Neumann, a chief executive who has won plaudits from one esteemed auto observer.
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By GlobalData“I think the somewhat better performance in recent months and the person of Mr Neumann has played certain roles and they are willing to give another chance – I don’t think this changes with the new CEO,” Metzler Bank automotive analyst, Juergen Pieper told me from his Frankfurt office.
“He is really talented, really bright, Neumann, he is trying to make the Opel position stronger. This new CEO [Barra] from my understanding, has no big experience outside North America and certainly from the Detroit perspective, European things are not that important.”
Pieper – a widely respected automotive analyst with Metzler – Germany’s oldest private bank – maintains Opel could be “third or fourth” on Barra’s list with North America and China taking priority although he did leave open a tantalising prospect Europe could be revisited in the nearish future.
“My best guess is Opel/Vauxhall have a chance for another one to two years to make things better and then we will see,” was the sobering assessment from Frankfurt.
Pieper also estimates Opel plant closures in Europe have come to an end at least for the time being with a quieter period in store on that front following GM’s axing of its plant in Antwerp and the downsizing of the Bochum site.
So Whether Barra chooses a direct replacement for Girsky in the short term will be an intriguing narrative to emerge or not from Detroit as she starts to stamp her authority on GM.
Berlin is also sure to have taken notice of the change in GM’s European direction and will be eyeing Barra’s appointment with interest.
Germany’s nose was considerably put out of joint a few years ago as the will they/won’t they saga with Opel unfolded and the politicians will be keen to know the new CEO’s mind.
Angela Merkel at the head of Europe’s most successful economy and Mary Barra at GM’s helm will see two of the world’s most powerful women from politics and business collide in either harmony or discord, a fascinating prospect.
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