GM: New Company for a New World

FRI, DEC 10, 2010 (1:03:03)

David Rubenstein talks with General Motors CEO Dan Akerson about the current state of the company and the future of automaking in America. Akerson discusses GM’s bankruptcy, the company’s relationship with auto manufacturing labor unions and its expansion into new markets.

+ BIO: Dan Akerson

Daniel F. Akerson was elected chief executive officer of General Motors Company on August 11, 2010. He became CEO effective September 1. Prior to joining General Motors, Akerson was a managing director of The Carlyle Group and the head of global buyout. He served on the firm’s executive committee and was based in Washington, D.C. Akerson is a seasoned executive with extensive operating and management experience, having served as chairman, chief executive officer, or president of several major companies, including General Instrument, MCI, Nextel, and XO Communications. His corporate management experience, private equity track record, and deep understanding of Carlyle’s global operation provided a strong foundation for his leadership of Carlyle’s buyout activities in Asia, Europe, Financial Services, Infrastructure, Japan, and the United States. Prior to joining Carlyle, Akerson served in several key roles at MCI Communications Corporation from 1983-1993 including executive vice president and chief financial officer from 1987-1990 and president and chief operating officer from 1992-1993. During his tenure, Akerson formulated and executed MCI’s global strategy. In 1993, Akerson become a general partner of private equity firm Forstmann Little & Company, during which time he served as chairman and chief executive officer of General Instrument Company from 1993-1995. While at General Instrument, he led a successful effort to develop and deploy the first digital video, satellite, and cable systems domestically and internationally. Akerson served as chairman from 1996-2001 and as chief executive officer of Nextel Communications, Inc., from 1996-1999, where he transitioned the company from a regional analog walkie/talkie provider into a national digital wireless competitor. From late 1999 until January 2003, Akerson served as chairman and chief executive officer of XO Communications, Inc. where he led the successful restructuring of the company. In addition to serving on GM’s board, Akerson also serves on the board of the American Express Company. Akerson graduated from the U.S. Naval Academy in 1970 with a bachelor of science in engineering. He earned his M.Sc. in economics from the London School of Economics.

+ BIO: David Rubenstein

David M. Rubenstein is a Co-Founder and Managing Director of The Carlyle Group, one of the world’s largest private equity firms. Mr. Rubenstein co-founded the firm in 1987. Since then, Carlyle has grown into a firm managing more than $90 billion from 19 offices around the world. Mr. Rubenstein, a native of Baltimore, is a 1970 magna cum laude graduate of Duke, where he was elected Phi Beta Kappa. He is the Chairman of the John F. Kennedy Center for the Performing Arts, a Regent of the Smithsonian Institution and on the Board of Directors or Trustees of Duke University, Johns Hopkins University, University of Chicago, the Lincoln Center for the Performing Arts, the Memorial Sloan-Kettering Cancer Center, Johns Hopkins Medicine, the Council on Foreign Relations, the Institute for Advanced Study, the Cold Spring Harbor Laboratory, the National Museum of American History of the Smithsonian Institution, the Museum of Natural History of the Smithsonian Institution, the Center for Strategic and International Studies, the Asia Society, the American Academy in Berlin, American Council on Germany, and Ford’s Theatre. Mr. Rubenstein is President of the Economic Club of Washington and is also a member of The Business Council, Visiting Committee of the Kennedy School of Government at Harvard, the Dean’s Council at the Woodrow Wilson School at Princeton, the Advisory Board of the Stanford Institute for Economic Policy Research, the Board of Overseers of the Hoover Institution, Advisory Board of School of Economics and Management Tsinghua University, the Trustees’ Council of the National Gallery of Art, the Madison Council of the Library of Congress, the International Business Council of the World Economic Forum, the Council of the National Trust for Historic Preservation, and Harvard Business School’s Board of Dean’s Advisors.

The Economic Club of Washington, D.C.