Some companies boast of seasoned veterans in the IR office. Others rely on an army of PR soldiers-for-hire. General Motors is in another camp entirely, plucking its IR director straight out of operations.
‘It’s a different philosophy,’ remarks, Michael Bruynesteyn, GM’s incoming IR director. ‘We want people who really know what’s going on in GM, and who have contacts within the company they can tap into. Besides, it’s a great career stepping stone.’
Canadian-born and British-educated Bruynesteyn began his career with the UK’s Vauxhall Motors then moved on to GM’s international headquarters in Zurich. There he was occupied with business development, M&As, divestitures, feasibility studies, and budgeting. Last year he came back to New York to work in overseas finance.
The pattern in Bruynesteyn’s track record is not coincidental. ‘Management is sending a clear message: I was selected because of my international experience,’ he says. ‘Our international side is not as well understood as our domestic one, but it is definitely where our main activity is.’
Bruynesteyn was looking forward to September’s European ‘ride ‘n drive’ event in Frankfurt, where GM will launch its new Cadillac Seville for the European as well as US investment community. Then there’s a Tokyo auto show later in the fall, which gives him an excuse to meet the Asian investment community.
‘Cars are a great way to get the analysts to come and listen to management – if that wasn’t enough of an incentive already,’ quips Bruynesteyn. So as GM introduces its new Golf-beating Antra T-3000, investors can get in the car and drive: ‘That’s important if they’re to understand how we’re competing.’
Bruynesteyn joins GM’s New York-based seven-person IR department, comprising two permanent managers, analysts and an intern. The group works alongside the communications team, which is split among GM’s New York and Detroit offices.
Meanwhile, Richard Nelson moves from Monsanto to take up the newly created post of GM’s general director of external communications. Based in Detroit, Nelson is handling overall corporate media relations, financial communications and reputation management, ensuring that the external communications for all GM’s business sectors work together.
Before Monsanto, Nelson worked in marketing PR for First Chicago Corp, as chief corporate spokesperson for Playboy Enterprises, and as an account supervisor at Hill & Knowlton. He also served as assistant White House press secretary during the Carter administration.
