He was named the Chairman of GM on March 30, 2009 after Rick Wagoner, the Chairman and CEO of GM was ordered to resign by U.S. President Barack Obama.
On 3 June 2008, GM Chairman Rick Wagoner announced that the Moraine plant would close in December, citing high fuel prices and decreased demand for the SUV and trucks produced by the plant.
During hearings for government loans to the Big Three Automakers, Wagoner, Alan Mulally and Robert Nardelli were criticized for flying to Washington, D.C. in corporate jets.
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After GM lost $30 billion during a single three-year stretch in the early 1990s, Wagoner and Chairman John F. "Jack" Smith Jr. forced GM "back to basics" to battle "30 years of management mistakes" that left him with little room to maneuver.
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