Monday, March 17, 2014

GM's Ackerson Rejoins Carlyle Group

Ex-Carlyle Group Managing Director Daniel Ackerson served as GM's CEO from 2010 to January 2014.  Since his retirement GM has been rocked by a series of recalls.  Some questioned the company's silence in the face of deadly defects.   Nearly four years of that silence occurred under Ackerson.

General Motors has been getting a lot of attention and criticism for its recall of 1.6 million vehicles worldwide to deal with an ignition switch problem. GM engineers knew at least as early as 2004 of the problem, but the company did not recall the vehicles until February of this year. At least 12 deaths have been linked to the problem with the ignition switch. And the number of vehicles covered by the recall has doubled since it was originally announced.

Ackerson rejoined Carlyle as Vice Chairman and Special Advisor to the Board of Directors, which is essentially run by the Carlyle's co-founding triumvirate   It's nice he had a safe place to go back to.  Others aren't so lucky.