Critique of the GM board guidelines. (General Motors Corp.)

Directors & Boards | June 22, 1994| | Copyright

The board of one of America's most emblematic companies has given thoughtful consideration to what a board needs in order to be able to do its job.

Over its history, General Motors has tried out almost as many models of corporate governance as cars, and with the same variety of results. In the 1920s the CEO of General Motors was forced to resign by Pierre du Pont, representing the Du Pont company's 36% stake in GM. Du Pont himself became the CEO for two critical years, before turning the company over to Alfred Sloan -- perhaps the ultimate example of shareholder ...

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