GM CEO Dismisses Merger Rumors
June 10, 2015—General Motors CEO Mary Barra on Tuesday dismissed the idea of a merger with Fiat Chrysler Automobiles (FCA), according to a report from USA Today.
Speaking at GM’s annual meeting in Detroit, Barra acknowledged that FCA CEO Sergio Marchionne had recently emailed her to propose a merger. Barra said GM “thoroughly vetted” the idea and rejected the proposition that GM and FCA should team up. Barra discussed the matter with the board and other GM executives and together they collectively ruled out the FCA merger.
Barra said GM’s product strategy and profit-margin improvement have positioned it to thrive independently.
"We're showing steady progress on our goals to 2016 and beyond. We think we're acting in the best in interests of our shareholders. So that is our plan that is endorsed by our board," said Barra, according to USA Today.