Russo Gets in Gear
Well, wonder no more. She has joined Ed Whitacre on the board of General Motors. (See Ed Whitacre to Helm GM.)
Russo is now part of the team charged with turning GM around and putting the brakes on its losses. (Can you see what we're doing here?)
According to documents filed with American Car World magazine -- or maybe it was the Securities and Exchange Commission (SEC) -- Russo will pull down $200,000 a year for her trouble.
While all sorts of serious questions spring to mind about the state of the U.S. car manufacturing industry and the caliber of executives needed to help the sector out of its current crisis -- for example, has Russo been added to the board because she has some experience selling transport systems? -- EuroBlog can't help but wonder whether this means the GM board table will now have an enormous bowl of peanut M&Ms at its center. (See Russo's Weakness.)
Anyhoo, I sincerely hope message board users will be able to refrain from using the term "car crash" when discussing this appointment...
— Ray Le Maistre, International News Editor, Light Reading