|DETROIT - The General Motors Board of Directors has elected
G. Richard Wagoner, Jr., 46, chief executive officer and president, effective June 1,
2000. Currently, he is president and chief operating officer. In his new capacity, Wagoner
has responsibility for the strategic and operational leadership of General Motors.
|John F. Smith, Jr., 61, currently chairman and
chief executive officer, will continue as chairman and maintain his key role of building
strong relationships with GM's business partners, unions, dealers, with governments around
the world and with external business groups. He will also act as the primary interface
between the Board of Directors and GM management.
"Everyone at General Motors has
a deep sense of gratitude for the tremendous leadership Jack Smith has provided since he
was named CEO in 1992," Wagoner said. "Having Jack's continuing leadership
counsel and years of experience at hand will be an invaluable strategic advantage for us
as we go forward."
Harry J. Pearce, 57, vice chairman, will continue in that position and will continue to
provide oversight for Hughes Electronics. He maintains responsibility for Allison
Transmission Division, GM Electro-Motive Group and its Defense Operations. He will also
continue to be responsible for GM's focus on advanced vehicle technology, safety, the
environment and key public policy issues.
Wagoner, Pearce and Thomas A. Gottschalk, GM's general counsel, will continue to report
to Smith. Smith, Wagoner and Pearce continue as GM directors.
In addition to the four regional automotive presidents and key "global process
leaders" (for such enterprise activities as engineering, manufacturing, purchasing
and human resources) who already report to Wagoner, the Company's chief financial officer
and General Motors Acceptance Corp. will be realigned to report to him as well. These
latter organizations previously reported to Smith.
In communications to employees earlier this morning, Smith said that this action was
part of the Board's continuing succession planning activity and that it will maintain
continuity at the senior-most executive level and further build on the momentum General
Motors has generated over the past several years.
(February 2, 2000)