Rumors are rampant that Phil Guarascio, GM's vice president of advertising and marketing, may be on the way out. But it's news to Rick Wagoner, the man who will replace Jack Smith as CEO June 1.
'Phil has brought a lot of innovation, a lot of change, to GM,' Wagoner says. 'Phil has done a lot to bring GM together with media buying and advertising.'
As to whether or not there has been any pressure from the GM board or top management for Guarascio to leave, Wagoner says: 'This would not be a board thing. And as for top management, we're relaxed.'