GM prepares to move past recalls with multi-year strategy image

On Wednesday, GM’s chief executive Mary Barra is set to unveil a multi-year financial plan – akin to Marchionne’s five-year strategy for FCA – aiming to concentrate on delivering greater profits and better vehicles.

Barra, the first woman in charge of one of the world’s largest automakers, has spent much of her term – which started in January – fighting a huge safety scandal triggered by the company’s concealment of a defective ignition switch in 2.6 million cars.

The 53-year old CEO now mulls a new strategy for the company, aiming to move past decades of weak management and failures that led to the shameful cover-up of a fatal safety flaw.

“I hate the word culture,” Barra says. Culture is really just how we all behave. In the past…I was too nice,” she contends. “If you’re not in line with this vision, you don’t need to be here.”

The company head has been giving vague terms for GM to achieve the promised 10% pre-tax profit returns, together with the same “mid-decade” term for the return to profit of the money loosing European unit. The CEO is expected to tell investors tomorrow a more specific time-frame for the goals, as well as a new strategy to spend the roughly $39 billion in cash and cash equivalents it has in its vaults.

Via The Wall Street Journal