Tom Davis Announces He'll Retire in 2002, Bob Lutz to Head GM Product Development
FOR RELEASE: August 2, 2001Tom Davis Announces He'll Retire in 2002, Bob Lutz to Head GM Product Development
DETROIT - General Motors Corp. today announced its Board of Directors has elected Bob Lutz vice chairman responsible for product development, effective Sept. 1. Tom Davis, group vice president - product development, will retire in the first quarter of next year.
Lutz, whose agreement runs three years, will report to President and CEO Rick Wagoner. He will serve on both the Automotive Strategy Board and the North American Strategy Board.
He will coordinate closely with Ron Zarrella, president of GM North America, on development of products for the key North American market. He also will oversee the development of GM's global product portfolio.
"Tom Davis told me some time ago of his plan to retire around age 55, so earlier this year we began a formal search -- both internal and external -- for the best person to oversee our vast global product-development organization," Wagoner said.
"In early June, based on my tremendous respect for his product and business expertise, I met with Bob to seek his counsel. I was incredibly impressed with his continuing passion and enthusiasm for cars and trucks, and the auto industry in general.
"Shortly into the conversation, it became very clear to me that he was the right executive for GM."
Wagoner also praised Davis, who will retire after a 37-year career with GM.
"While we're very excited to have a person of Bob's caliber join our organization, we're equally disappointed to see Tom retire," Wagoner said. "Tom has been a great leader for GM. Whether he was heading the truck group or overseeing the convergence of our product-development organization, Tom did an exceptional job."
Davis said he had been planning his retirement for some time.
"It was pretty simple, really," Davis said. "I know it's an old song, but I sincerely wanted to retire and spend more time with my family. I've given almost 40 years to GM, sometimes at the expense of my family. (MORE)
"Over the past year or so, I've had the opportunity to reflect and decided this is what I wanted to do. I am very excited about GM's future."
Reporting to Lutz in his new role will be Wayne Cherry, vice president -- Design Center; Jim Queen, vice president of North America engineering; and the 14 North American vehicle line executives. Larry Burns, vice president of GM research and development and planning, will report to both Lutz and Wagoner.
"I'm taking this job because it is truly a once-in-a-lifetime opportunity -- the opportunity to help in the ongoing rebuilding of not just an American icon, but a global icon," Lutz said. "I began my business career at General Motors back in the 1960s. In those days, GM cars and trucks set the standard throughout the world. I still have quite a bit of gasoline in my veins. I relish this opportunity to finish out my career as a day-to-day executive, working with Rick and Ron Zarrella and the GM team, to help solidify and accelerate the progress already being made on product by GM.
"At the same time, I'm both pleased and gratified that the board of Exide Technologies has strongly endorsed my continuing role as chairman of that also-great, 113-year-old company -- a position I plan to retain as long as the board will have me.
"Meanwhile, as chairman of the board of Exide Technologies, I can't help but be delighted by the strength of the management team we now have in place, led by our newly elected chief executive officer, Craig Muhlhauser."
Full bios of individuals mentioned in this release will be available at GM Media Online at media.gm.com.
General Motors , the world's largest vehicle manufacturer, designs, builds and markets cars and trucks worldwide. In 2000, GM earned $5 billion on sales of $183.3 billion, excluding special items. It employs about 372,000 people globally.
In 2000, GM sold about 8.6 million cars and trucks -- more than any other automaker and 15.1 percent of the world vehicle market. GM's largest market is North America, where it is in its 74th year as the market leader.
GM cars and trucks are sold under the following brands: Chevrolet, Pontiac, Buick, Oldsmobile, Cadillac, GMC, Saturn, Hummer, Saab, Opel, Vauxhall and Holden. GM parts and accessories are marketed under the GM, GM Goodwrench and ACDelco brands through GM Service Parts Operations.
As part of its global growth strategy, the GM network includes major alliances with Fiat Auto SpA, Fuji Heavy Industries Ltd., Isuzu Motors Ltd. and Suzuki Motor Corp.
More information on GM can be found at www.gm.com.
(Editors: A news conference will be held at 1 p.m. EDT at the Renaissance Conference Center, on the 2nd level of Tower 300 in the GM Global Headquarters at the Renaissance Center, Detroit. Wagoner, Zarrella, Davis and Lutz will attend.
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