The news of GM's retreat, reported by The Wall Street Journal, cast a shadow over Facebook’s debut on the Nasdaq stock exchange.
‘It was overblown,’ GM global chief marketing officer Joel Ewanick told Marketing after he appeared at a Cannes Lions Advertising session on client-agency relationships on Friday 22 June. ‘People think we were out to get Facebook. That’s not true.’
He added: ‘We have a great relationship and put a lot of money into it. And we have a pretty big budget and developed a lot of content.’
Ewanick stressed that GM ‘has one of the most successful sites on Facebook with a lot of fans who are very engaged. We’re very happy with that.’ He vowed that ‘long-term, you’ll see we’ll have a great relationship and it’s all good’.