General Motors CEO Dan Akerson bought 25,000 shares of the company’s stock in a gesture of faith that the shares are undervalued at a time when North American profits are offsetting troubles in Europe.
But he separately expressed his continued frustration with the company’s inability to quickly shed its bureaucratic legacy.
“You shouldn’t stand around waiting for somebody to tell you where we’re going to go,” Akerson said in a conference call, according to the Associated Press, which said it was allowed to listen. “We’ve got to get this company and the culture into the 21st Century.”
Akerson purchased shares at a price of $20.35 for a total investment of $508,750, according to a U.S. Securities and Exchange Commission filing. That gives him 272,828 shares overall.