Anyone who has been constantly reading about the auto industry would be familiar with the talks about a possible merger between GM, Renault and Nissan. GM CEO Rick Wagoner and Carlos Ghosn, CEO of both Renault and Nissan will discuss about the possible union between the three companies at a dinner meeting on Friday. This new development arose just two weeks after billionaire investor Kirk Kerkorian, GM’s largest individual shareholder declared his proposal to serve as a broker to help Renault and Nissan take a extensive stake in GM.
If the merger should happen, it seems Rick Wagoner would be the main beneficiary. Though his company suffered enormous loss of $10.6 billion in 2005 and loss of U.S. market share to foreign rivals, the GM CEO has no plan to vacate his office for Ghosn.
Reuters reports:
I have no intention of leaving my position at GM. We are in the middle of a huge turnaround that’s getting a lot of momentum, and we really need to stay focused on that.
On the other hand, Ghosn doesn not seem to mind, he too has no intention to leave his current position. He shares:
I’m not going to run any other third company. That’s not what is at stake here.What is at stake here is building an alliance with a third company and supporting this company. I’m saying categorically it’s out of the question that I’ll add on top of my two present responsibilities, which is being CEO of Renault and Nissan, another one.
