Jerome Bailey York (June 22, 1938 – March 18, 2010), commonly known as Jerry York, was an American businessman, and the chairman, president and CEO of Harwinton Capital. He was the former CFO of IBM[1] and Chrysler, and was CEO of Micro Warehouse. He was a chief aide to Kirk Kerkorian and his Tracinda investment company.[1] In February 2006, Kerkorian helped elect York to the board of directors of General Motors, from which he had previously resigned.[1]
Jerry York | |
|---|---|
 | |
| Born | Jerome Bailey York June 22, 1938[1] Memphis, Tennessee, U.S. |
| Died | March 18, 2010 (aged 71)[1] Pontiac, Michigan, U.S. |
| Alma mater | United States Military Academy at West Point University of Michigan Massachusetts Institute of Technology |
Biography
editYork was born in Memphis, Tennessee, in 1938[1] and lived in Oakland Township, Michigan. He earned degrees from the United States Military Academy at West Point,[1] the Massachusetts Institute of Technology,[1] and the University of Michigan's Ross School of Business,[1] and was trained as an engineer. A gymnastics injury prevented York from serving in the military.[2]
York eventually became the CFO at Chrysler. When Lee Iacocca retired as Chrysler CEO in 1992, York was a leading candidate to succeed him.[3] After being passed over as Chrysler CEO, York became CFO of IBM Corporation. He later served as a special adviser to investor Kirk Kerkorian during Kerkorian's 2007 failed takeover bid for Chrysler and his other investments in Ford Motor Company and General Motors, where he previously served as a board member from February to October 2006 before resigning over frustration resulting from GM's failure to distribute materials to the board in advance of its meetings and a reluctance to implement change recommendations, including the shedding of peripheral brands,[4] which GM ultimately affected during bankruptcy in the form of terminating the Pontiac, Saturn, and Hummer brands (after a failed sale attempt to Chinese Sichuan Tengzhong Heavy Industrial Machinery) and the sale of its SAAB division to Spyker Cars.[5]
From 1999 to 2003, York was chairman and CEO of Micro Warehouse,[6] which went bankrupt. He was also on the board of Apple Inc. after Steve Jobs' comeback in 1997.[7]
York was also an enthusiast of alternative energy, particularly wind energy. He was the CFO and a member of the board at USWind, a wind energy company of which he was a co-founder and active management team member. York believed that moving the turbine from adjacent to the blades to on the ground, by using a series of conveyor belts, would significantly increase height, decrease weight, and improve efficiency of wind power generation.
York was also part of a team developing the next generation portable computer.
York was hospitalized on March 17, 2010, after collapsing in his suburban Detroit home from a brain aneurysm.[8] He died the next day.[1]
References
edit- ^ a b c d e f g h i j MICHELINE MAYNARD (March 18, 2010). "Jerome B. York, Former Auto Executive, Dies at 71". The New York Times. Retrieved March 18, 2010.
- ^ Bloomberg News (March 19, 2010). "Jerome York, executive with Apple, Chrysler and IBM, dies at 71". The Washington Post.
- ^ Stephen Miller; Joann S. Lublin (March 19, 2010). "Turnaround Expert Jerome York Dies at 71". The Wall Street Journal. Retrieved March 20, 2020.
- ^ "Resignation Letter". October 9, 2006. Retrieved March 20, 2010.[permanent dead link]
- ^ "Jerry York, who prodded GM for change, dies at 71". March 18, 2010. Archived from the original on March 3, 2016. Retrieved March 18, 2010.
- ^ "Apple director, ex-auto executive York dies". The Washington Post. Associated Press. March 19, 2010. Retrieved March 20, 2010.[dead link]
- ^ "Apple Director Jerome B. York Passes Away" (Press release). Apple Inc. March 18, 2010. Retrieved March 18, 2010.
- ^ Tom Krisher and Dee-Ann Durbin (March 18, 2010). "Apple director, ex-auto executive York dies". Bradenton Herald. Associated Press. Archived from the original on July 10, 2011. Retrieved March 18, 2010.