Nov. 19 (Bloomberg) -- General Motors Corp. Chief Executive Rick Wagoner signaled that he would step aside should he be asked to resign as a condition for the biggest U.S. automaker to receive federal aid.

``I'll always do what's right for the company,'' Wagoner said today in a Bloomberg Television interview. ``But even more critical during a difficult time period is having the best possible management team. We have a good team at GM. That's not what I would recommend.''

Wagoner, 55, spoke in Washington after testifying to a U.S. House committee with CEOs Alan Mulally of Ford Motor Co. and Robert Nardelli of Chrysler LLC to drum up support for a $25 billion rescue plan for the auto industry.

GM and Chrysler have said they're running out of money, with Detroit-based GM saying it may not have enough operating cash by year's end. Some lawmakers have called on Wagoner, who has been CEO since 2000, to quit.

To contact the reporter on this story: Greg Miles in New York at gmiles1@bloomberg.net; Bill Koenig in Southfield, Michigan, at wkoenig@bloomberg.net

Last Updated: November 19, 2008 17:24 EST