Ex-Wall St. Analyst to Leave G.M. Post May 5, 2006
DETROIT, May 4 (AP) ? Stephen J. Girsky, a former Wall Street analyst who became a full-time adviser to General Motors, is leaving G.M. after less than a year, a spokeswoman for the company said Thursday.
Mr. Girsky’s commute from his New York home to Detroit was hard on his family life, said Toni Simonetti, a G.M. spokeswoman. She said he planned to leave in June.
Ms. Simonetti also said that Mr. Girsky believed that it was a good time to leave G.M. because its North American turnaround plan was on track.
G.M. narrowed its first-quarter loss this year to $323 million, down from $1.3 billion in the period a year earlier.
“General Motors is a much different place than it was when he joined,” Ms. Simonetti said.
G.M. announced late last year that it planned to cut 30,000 jobs and close 12 operations by 2008, and since then it has offered buyouts to all of its 113,000 United States hourly workers. It also sold a majority stake in its finance arm, the General Motors Acceptance Corporation, and reached a deal with the United Automobile Workers to make retirees pay more for their health care.
Ms. Simonetti said Mr. Girsky played an important role in those actions.
“He has a knack for asking really good questions and shaking the trees,” she said.
- Posted in : Uncategorized, GM
- Author : arnold
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