In May 2002, Ghosn announced his next set of goals for the company, "Nissan 180", a three-year plan for growth based on the numbers 1, 8, and 0: By the end of September 2005, Nissan planned to increase its global sales by one million vehicles; and by the spring of 2005, it was committed to achieving an operating margin of at least 8% and reducing its net automotive debt to zero. These goals were all reached: In the spring of 2003, Nissan announced that its net automotive debt was eliminated in fiscal year 2002. Nissan's operating profit margin climbed to 11.1% in fiscal year 2003; it had been 1.4% in fiscal year 1999. In October 2005, Nissan announced that its annual sales from 30 September 2004, to 30 September 2005, were more than 3.67 million, up from the 2.6 million vehicles sold in the fiscal year ended March 2002. In May 2005, Ghosn was named president and chief executive officer of Renault. When he assumed the CEO roles at both Renault and Nissan, Ghosn became the world's first person to run two companies on the Fortune Global 500 simultaneously. In 2005, billionaire investor Kirk Kerkorian acquired a 9.9% stake in General Motors (GM) and seated one of his representatives on the company's board, then urged GM to investigate a merger with Renault and Nissan with Ghosn as the new chairman of GM. In 2006, GM's embattled management rebuffed the takeover attempt, and by the end of the year, Kerkorian's Tracinda Corp. sold most of its GM stock. In 2006, Ford Motor Co. made Ghosn a formal offer to lead the company. Ghosn refused, reportedly saying the only way he would come to the struggling company was if he was named both the CEO and chairman of the board. Bill Ford Jr. refused to give up his chairmanship. In 2007, Ghosn led the Renault–Nissan Alliance into the mass-market zero-emission electric car market in a major way, and committed €4 billion (more than $5 billion) to the effort. In 2008, he confirmed that Nissan–Renault would bring an "entire lineup" of zero-emission electric cars to the worldwide market by 2012. In 2009, he told the University of Pennsylvania's Wharton School of Business, "If you're going to let developing countries have as many cars as they want—and they're going to have as many cars as they want one way or another—there is absolutely no