Speaking at a press conference in Dubai, Maureen Kempston Darkes, Group Vice President and President of General Motors for Latin America, Africa and the Middle East, said that, despite the Detroit-based automaker’s woes, “bankruptcy is not an option that GM is considering.”
In charge of the burgeoning Middle East market, Darkes ranks among GM’s most influential and important leaders. She said that for the automaker to declare bankruptcy would “not benefit our customers, our dealers or our employees.”
She went on to reiterate GM’s stance on seeking federal funding from the United States government.
“There is a strong need for coordinated federal action,” she told gathered reporters.
When asked about how GMAC, GM’s financial arm part owned by the automaker and part by Cerberus Capital Management, would fit into the automaker’s future plan, Darkes said, “Who knows? Times change and we will have to see how that develops.”
“The problems in the markets and credit markets can handicap the pace at which we can transform our business.”
