Sunday, May 31, 2009

General Motors Board of Shame

General Motors (NYSE:GM) will file for bankruptcy Monday. While there are many culprits and stake holders the media has over looked the role of the board of directors. Yes the boat sank and they were in charge. While some of the directorships did change and not all of them bear equal blame, no one director has come forth and said they were trying to steer the ship in a different direction. Congress should subpoena and require testimony from the directors as well as senior officers.

Here is the list from http://tinyurl.com/5q9u32

The General Motors Board of Directors

Erskine B. Bowles
President,
The University of North Carolina
Director since 2005

John H. Bryan
Retired Chairman
and Chief Executive Officer,
Sara Lee Corporation
Director since 1993

Armando M. Codina
Chairman,
Flagler Development Group
Director since 2002

Erroll B. Davis, Jr.
Chancellor,
University System of Georgia
Director since 2007

George M.C. Fisher
Retired Chairman
and Chief Executive Officer,
Eastman Kodak Company
Director since 1996

E. Neville Isdell
Retired Chairman and Chief Executive Officer,
The Coca-Cola Company
Director since 2008

Karen Katen
Senior Advisor,
Essex Woodlands Health Ventures
Director since 1997

Kent Kresa
Interim Non-Executive Chairman of the Board,
General Motors Corporation
Director since 2003

Philip A. Laskawy
Retired Chairman
and Chief Executive Officer,
Ernst & Young LLP
Director since 2003

Kathryn V. Marinello
Chairman
and Chief Executive Officer,
Ceridian Corporation
Director since 2007

Eckhard Pfeiffer
Retired President
and Chief Executive Officer,
Compaq Computer Corporation
Director since 1996

Frederick A. Henderson
President
and Chief Executive Officer,
General Motors Corporation
Director since 2009