Who would want to be a car chief today? It's become one of the world's worst jobs. Two have been sacked and there's more to come.
First we have the Obama administration forcing General Motors chief executive Rick Wagoner to rack off. In his statement, Wagoner made it clear that he was given little choice. The administration believes he doesn't have what it takes to turn GM around. Particularly given that in his nine years at the helm, GM had made massive losses and given up its market share. It coincides with the Obama administration raising the bar for the industry, refusing to give GM and Chrysler any more money from taxpayers and instructing them to come up with new plans.
Wagoner's departure coincides with PSA Peugeot Citroen sacking chief executive Christian Streiff after massive losses last year.
Wagoner and Streiff are the first two victims of the industry's upheaval. The question is who's next.
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