Bob Lutz: 'I was not to be Iacocca's successor'.

• Position: DIRECTOR MEMOIR - Reprint

Ed. Note: Bob Lutz was a firm and innovative hand on the steering wheel of the auto industry over a legendary 47-year run. He held leadership posts with General Motors (both when starting and finishing up his fulltime career in the car business), BMW, Ford, and Chrysler, with a pit stop as CEO of automotive supplier Exide Technologies. More than just a car guy, he has been an astute observer of corporate leadership. In 1998 he wrote Guts, which was revised and updated in 2003 as Guts: 8 Laws of Business from One of the Most Innovative Business Leaders of Our Time. In 2011 he wrote Car Guys vs. Bean Counters: The Battle for the Soul of American Business. And this year he is out with another provocative book, Icons And Idiots: Straight Talk On Leadership. In his new book he names names and tells revealing (often funny and sometimes eyebrow-raising) stories of leaders he has worked with, including Lee Iacocca, Philip Caldwell, and Rick Wagoner. He retired from GM as vice chairman in 2010 and continues to serve on boards, including Via Motors and NanoSteel Co. Inc. The former Marine is also a trustee of the U.S. Marine Corps University Foundation. In this excerpt from his book he explains how he bumped up against the "ABL succession program" at Chrysler, and in the follow-on sidebar he answers a few questions from Directors & Boards on being successful in the boardroom.

I was not to be Iacocca's successor. Many on the board thought I should be, but Lee fought it vehemently. I was too ambitious, volatile, unpredictable, undiplomatic, emotional, and way too prone to saying the wrong thing at the wrong time. In short, I was way too similar to Iacocca! He instituted what he called his "ABL" succession program, and it stood for "Anybody but Lutz."

Candidate after candidate surfaced, until, finally, Lee found Bob Eaton, the head of GM Europe, an entity that was hugely profitable at the time. Bob was experienced, polished, polite, well-spoken, and knew the business. He was soon anointed. Before the announcement, Lee gave me his version of the Henry Ford II "I just don't like you" talk. I was disappointed but at...