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Ex Morgan Stanley analyst Stephen Girsky to represent UAW Retiree Medical Benefits Trust on General Motors board
By Amarendra Bhushan for CEOWORLD Magazine Updated:June 19, 2009
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The trustees for the United Auto Workers health-care fund named former Morgan Stanley automotive analyst and one-time adviser to General Motors Corp. Stephen Girsky to the automaker’s board of directors.
GM previously appointed seven board members and is in the process of selecting four more. Along with Stephen Girsky, one director will be nominated by the Canadian government to make a total of 13 directors.
The UAW health care trust will own 17.5 percent of GM when it emerges from bankruptcy this summer and was given the right to name one director of the board.
Earlier, the UAW trust named former Michigan Gov. James Blanchard to represent it on the Chrysler Group LLC board of directors.
Girsky is a former Morgan Stanley analyst and was one of GM harshest critics. He later was tapped by former GM Chairman Rick Wagoner as an adviser and has more recently worked as an adviser to the UAW.
More recently, as an independent consultant, he assisted UAW president Ron Gettelfinger in concession talks with the automakers. He also assisted GM in its pending sale of its Saturn unit to Roger Penske.
He will join former AT&T CEO Ed Whitacre, who last week was named the company’s new chairman, along with six existing directors and five to be named by the U.S. and Canadian governments.
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