GM CEO Says Financial Strategy Working
By Jeff Bennett
General Motors Co. Chief Dan Akerson said the auto maker's recent success to clean up its finances and an investment
grade ranking from one of the country's top three rating agencies shows the company's post-bankruptcy strategy is now
"We continue on our plan and the progress has been sustained over the last four years," Mr. Akerson said on the
sidelines of women's business forum in downtown Detroit Wednesday. "Our cash flow has been good and our profitability is
Mr. Akerson's comments come after two days of financial activity in which the auto maker raised $4.5 billion through
its first major private sale of debt and was raised to investment grade by Moody's Investor Services. Moody's is the
first of the three major rating agencies to lift the company out of junk status.
Separately, Mr. Akerson said he foresees a day when a woman will run one of the Detroit auto makers.
"I don't know when but I think there are an unbelievable number of talented women in automotive and certainly, General
Motors," Mr. Akerson said. "It is inevitable it is going to come to pass."
In 2011, Mr. Akerson reached outside GM's engineering organization and named Mary Barra to the position of global
product development, which oversees every vehicle that rolls out of the auto maker. Ms. Barra had previously worked as
vice president of human resources.
In 2012, Mr. Akerson said he saw Ms. Barra as one of a handful of possible contenders for the CEO position at GM once
Write to Jeff Bennett at Jeff.Bennett@wsj.com
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