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>>> WELCOME BACK TO "THE LEAD."
I'M JAKE TAPPER.
OUR MONEY LEAD, IS THE WOMAN WHO
WILL BE LEADING GENERAL MOTORS,
MARY BARRA.
SHE WILL BE MAKING THE LEAP FROM
EXECUTIVE VICE PRESIDENT TO CEO
IN JANUARY.
SHE WILL ALSO BE SHATTERING A
GLASS CEILING THAT HAS LOOMED
OVER DETROIT FOR DECADES.
SHE WILL BE THE FIRST WOMAN TO
LEAD A MAJOR U.S. AUTOMAKER.
THE BIG THREE BOYS CLUB NO MORE.
BARRA GREW UP WITH G.M.
HER FATHER WAS A TOOL AND DIE
MAKER FOR THE COMPANY AND HER
CAREER THERE BEGAN WHEN SHE WAS
18.
SHE'S TAKING OVER AT A DECENT
TIME.
THE GOVERNMENT HAS SOLD ITS LAST
STAKE IN THE COMPANY, SO THERE'S
NO MORE OF THAT BAILOUT BAGGAGE.
J.D. POWER GAVE G.M. A TOP
RANKING IN QUALITY THIS YEAR FOR
THE FIRST TIME.
>>> IN OTHER MONEY NEWS, IF YOU
LOVE YOGA, YOU ARE PROBABLY
FAMILIAR WITH THE COMPANY
LULULEMON, MAKERS OF ATHLETIC
GEAR FOR WHAT THE COMPANY
DESCRIBES AS SWEATY PURSUITS.
TODAY, THEY ANNOUNCED A NEW CEO.
LAURENT POTDEVIN.
WHILE A NEW CEO HAD BEEN
EXPECTED, WHAT WAS A SURPRISE
WAS THE ANNOUNCEMENT THAT THE
FOUNDER AND CHAIRMAN CHIP WILSON
WOULD BE STEPPING DOWN FROM HIS
ROLE LAST YEAR.
THE COMPANY'S HAD SOME ISSUES
THIS YEAR.
THEY RECALLED SOME OF THEIR
STRETCHY YOGA PANTS.
STOCKS ARE DOWN OVER 4% SINCE
LAST YEAR AND COMMENTS LIKE
THESE FROM WILSON JUST LAST
MONTH, WELL, THEY DIDN'T HELP.
>> SOME WOMEN'S BODIES JUST
ACTUALLY DON'T WORK FOR IT.
IT'S REALLY ABOUT THE RUBBING
THROUGH THE THIGHS, HOW MUCH
PRESSURE IS THERE AND OVER A
PERIOD OF TIME.
>> WILSON APOLOGIZED FOR THAT
COMMENT BUT ALSO WROTE IN A BLOG
POST IN 2009 THAT QUOTE, BREAST
CANCER ALSO CAME INTO PROMINENCE
IN THE 1990s, SIC.
I SUGGEST THIS WAS DUE TO THE
NUMBER OF CIGARETTE SMOKING
POWER WOMEN WHO ARE ON THE PILL.
INITIAL CONCENTRATION OF
HORMONES WERE VERY HIGH AND
TAKING ON THE STRESS PREVIOUSLY
LEFT TO MEN IN THE WORKING
WORLD.
I WANT TO BRING IN LEE
GALLAGHER, ASSISTANT MANAGING
EDITOR FOR FORTUNE MAGAZINE AND
CO-CHAIR OF THE FORTUNE MOST
POWERFUL SUMMIT.
I WANT TO GET TO THE TROUBLES OF
THE COMPANY IN A SECOND.
HOW BIG OF A DEAL IS IT WE HAVE
THE WOMAN AS HEAD OF THE FIRST
MAJOR U.S. AUTOMAKER?
>> A HUGE DEAL.
THIS IS HUGE NEWS.
SHE WAS CONSIDERED A CONTENDER,
SO IT WASN'T ENTIRELY
UNEXPECTED, BUT THIS IS A BIG
DEAL.
SHE NOW IS THE CEO, SHE RUNS THE
LARGEST WOMEN-RUN COMPANY WHEN
SHE TAKES OVER.
G.M. IS NUMBER SEVEN ON THE
FORTUNE 500 AND PREVIOUSLY, IT
WAS MEG WHITMAN WHO RUNS H.P.
THERE ARE A NUMBER OF WOMEN WHO
RUN THESE TOP CORPORATIONS.
BUT RUNNING A CAR COMPANY, JUST
THE MEANING THERE, THAT THIS IS
DETROIT, THIS IS THE AUTO
INDUSTRY, AND ITS PLACE ON THE
FORTUNE 500, THIS IS VERY, VERY
SIGNIFICANT.
IT'S IN LINE WITH TRENDS WE HAVE
SEEN OVER THE PAST FEW YEARS.
>> SHOULD WE EXPECT ANY BIG
CHANGES FROM HER?
>> I DON'T THINK SO.
I MEAN, SHE'S REALLY -- SHE
REALLY TELLS IT LIKE IT IS.
SHE'S KNOWN FOR KIND OF NO B.S.
SHE'S VERY, VERY EXPERIENCED.
SHE HAS ALMOST THE EXACT KIND OF
BACKGROUND YOU WOULD WANT FOR
SOMEONE TAKING THE REINS OF THIS
COMPANY.
SHE STARTED AS AN INTERN, SHE
HAS AN ENGINEERING BACKGROUND,
SHE RAN A PLANT, SHE RAN H.R.,
AND SHE WAS, YOU KNOW, FOR
EXAMPLE, WHEN SHE RAN HUMAN
RESOURCES, ONE OF THE THINGS SHE
DID WAS CUT DOWN THE EMPLOYEES'
DRESS CODE WHICH WAS A TEN-PAGE
PART OF A MANAGER'S DOCUMENT AND
MADE IT JUST ONE SENTENCE.
DRESS APPROPRIATELY.
HER POINT WAS IF YOU'RE RUNNING
A DIVISION AT G.M. AND MANAGING
PEOPLE, YOU DON'T NEED TO BE
TOLD WHAT TO WEAR.
SO THAT'S THE KIND OF MANAGER
SHE IS.
I THINK WE CAN TAKE A LOT FROM
THAT LESSON.
>> DRESS PROOAPPROPRIATELY.
I LOVE IT.
BACK TO LULULEMON, SPEAKING OF
DRESSING APPROPRIATELY, I HAVE
SEEN CHIP WILSON, THE SOON-TO-BE
OUSTED CEO DESCRIBED AS A LOOSE
CANNON.
IS THAT FAIR?
>> ABSOLUTELY.
HE JUST GIVES US MORE FODDER FOR
HEADLINES.
YOU CAN ALMOST, AT THIS POINT I
WAS GOING TO SAY HE COULD BE A
"SATURDAY NIGHT LIVE" SKIT.
HE IS.
WE HAVE SEEN THIS BEFORE IN SOME
EXECUTIVES, ESPECIALLY FOUNDERS
AND ENTREPRENEURS TEND TO BE
LET'S JUST SAY QUIRKY SOMETIMES.
IT'S NOT UNCOMMON.
BUT I THINK THE RIGHT THING TO
DO IS MOVE HIM OUT OF THE SCENES
AND PUT IN SOMEONE WHO CAN RUN
THIS BUSINESS.
THIS COMPANY IS BIG AND IT'S
IMPORTANT AND IT'S NOWHERE NEAR
THE SIZE OF THE COMPANY WHEN HE
FOUNDED IT.
SO HE'S LONG AGO BEEN BEHIND THE
SCENES BUT NOW THIS IS REALLY
MAKING IT OFFICIAL.
I THINK IT'S IMPORTANT, I THINK
THAT LULULEMON'S CUSTOMERS AND
SHAREHOLDERS NEED TO SEE THIS
HAPPEN.
>> WHEN I FIRST HEARD THE
COMMENT HE MADE ABOUT WOMEN'S
THIGHS AND YOU NEED TO HAVE A
CERTAIN KIND OF THIGH, NOT A FAT
THIGH, IN ORDER TO BE THE RIGHT
PERSON FOR LULULEMON YOGA PANTS,
I THOUGHT THIS GUY REALLY
DOESN'T KNOW WHO HIS CONSUMERS
ARE.
>> EXACTLY.
LOOK, I THINK THIS PLUS THE MARY
BARRA STORY, I MIGHT BE BIASED
BUT I THINK THIS IS WHY WE NEED
MORE WOMEN IN CEO ROLES.
I KNOW THEY'RE NOT REPLACING HIM