Kerkorian Taps Veteran Finance Exec

The former vice chairman of Tracinda Corp. also played a major role in the failed 1995 attempt to take over Chrysler Corp.
Stephen TaubMay 11, 2005

Jerome York is back in the spotlight.

Kirk Kerkorian, who said in a government filing that he has already bought 22 million shares of General Motors Corp. in the open market, announced that he has hired the venerable finance executive as a consultant.

From September 1995 to October 1999, York served as vice chairman Kerkorian’s investment vehicle Tracinda Corp. and played a major role in the billionaire’s failed attempt to take over Chrysler Corp. in 1995.

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According to Kekorian’s latest filing, York has already discussed Tracinda’s investment intent with Robert Lutz, vice chairman of product development and chairman of General Motors North America, and with John Devine, GM’s vice chairman and chief financial officer.

York has enjoyed a blue chip career as a finance executive. He held various positions at Chrysler from 1979 to 1993, including executive vice president-finance and CFO. From 1993 to 1995 he was senior vice president and chief financial officer of IBM Corp. and briefly served on the company’s board of directors.

After his term at Tracinda, from January 2000 till September 2003 York was chairman and chief executive officer of MicroWarehouse Inc., a reseller of computer hardware, software, and peripheral products. Since then has been CEO of Harwinton Capital Corp., a private investment company that he controls.

Last month, York was elected to the board of directors of Exide Technologies, where he serves on the company’s nominating and corporate governance committee. He is also a director of Apple Computer and Tyco International Ltd., where he chairs the audit committee.

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