In a conference call with industry analysts and reporters CEO of General Motors (GM), Dan Akerson, stated that the personnel changes in Europe and the recent departure of global marketing head Joel Ewanick showed how GM “would not hesitate to act when change is required to make the business stronger.”
During the call, held yesterday, Akerson added: “From time to time, it will mean parting company with people who are not delivering expected results, or alternatively who do not meet the highest standards for accountability and integrity.”
When asked about the impact Ewanick’s departure may have for the brand, Akerson stressed that GM’s marketing campaigns were a team effort, commenting: “What you saw manifest in the marketplace was a thought-out strategy that was agreed upon with the team,” indicating that decision’s such as Ewanick’s decision to drop Facebook advertising were not made alone.
Despite issues in the European market, GM remains solidly profitable like other car manufacturers, such as Ford. In Q2 GM has suffered an operating loss in Europe of $361 million, leading to a 41 per cent drop in second-quarter earnings. Though the brand made $2 billion in North American profit, however, its stock price fell below $20 a share leaving it down 40 per cent since late 2010.