DETROIT (Reuters) - General Motors Coresults "over the next several years" will determine howquickly the U.S. government bailout that saved it last year ispaid back, GM Chief Executive Dan Akerson said Thursday.
Paying back the government all at once would be"unrealistic," Akerson told reporters in a meeting at GMheadquarters in downtown Detroit.
Akerson, who was named as GM's fourth chief executive in an18-month period during a shake-up in August, said he was notcontemplating more management changes at the automaker.
GM filed plans for a public stock offering within a week ofthe announcement that Akerson would replace Chairman and ChiefExecutive Ed Whitacre at the top of the company. Akerson becameCEO on Sept. 1, and is expected to become chairman at year'send.
Akerson declined to discuss the IPO.
Akerson was named to GM's board in July 2009 after theautomaker emerged from a government-funded bankruptcy that leftthe Treasury holding a nearly 61 percent stake.
The IPO, which is expected in November, would allow thegovernment to begin to shed its stake and for GM to move awayfrom its "government motors" image. (Reporting by Kevin Krolicki, editing by Maureen Bavdek)