Jerry York, a long-time figure in the automotive world, has passed away at the age of 71. York most recently sat on the board of General Motors, but also held positions at Ford and Chrysler . York succumbed to a brain aneurysm on Thursday.
York started his career as an engineer for GM, but switched to operations and finance after receiving his M.B.A. After his stint with GM, York spent time at Ford before taking a job with Chrysler, ultimately rising to the position of Chief Financial Officer.
Following his career in the automotive world, York moved to IBM before making a name for himself as the personal financial advisor for Kirk Kerkorian and his Tracinda Corp. During his time with Tracinda York championed a takeover bid for Chrysler , but was ultimately unsuccessful (although the move netted Kerkorian $3 billion).
York also served on GM’s board, but resigned in 2006 after the company failed to heed any of his warnings. York suggested that GM shed at least one brand and streamline its operation or “the unthinkable could happen.” York’s warning came to fruition last year as GM was forced into bankruptcy.
York predicted Ford’s sale of Volvo and also urged the Blue Oval to unload its Mercury brand.
References
1. ‘Turnaround Expert…’ view
2. ‘Apple director Jerry…’ view
