Holden's Peter Hanenberger to Retire After 45 Years With GM

Denny Mooney to Succeed Hanenberger as Holden Chairman & Managing Director

DETROIT - Peter Hanenberger, a General Motors group vice president and chairman and managing director of GM's Australia subsidiary, Holden Ltd., will retire Jan. 1 after 45 years of service, GM Chairman and CEO Rick Wagoner announced today.

Denny Mooney, executive director of vehicle integration for GM North America Engineering, will succeed Hanenberger as Holden chairman and managing director, Wagoner said. Mooney will join Holden later this year and work with Hanenberger to ensure a smooth transition.

Hanenberger, 61, joined Holden in 1999 and oversaw its remarkable expansion and success in Australia and the other markets where Holden cars and trucks are sold.

"Under Peter's leadership, Holden has achieved record sales and market leadership, has expanded its exports to several key markets, and has become an case study to GM operations around the world of how to succeed with intelligence and creativity," Wagoner said. "He had an exemplary career at GM, both in Australia and Europe, where he was instrumental in the development of several hit products."

Before joining Holden, Hanenberger was a GM vice president and group executive of the Opel Technical Development Centre in Ruesselsheim, Germany. A native of Wiesbaden, Germany, he began his career at Adam Opel AG, GM's German subsidiary, in 1958 in vehicle testing and development. He moved up the ranks to several key engineering posts.

Holden underwent an aggressive expansion of its product lineup and manufacturing capacity under Hanenberger's tenure. He championed the expansion of Holden's research and product development capabilities, which included the recent announcement of the Holden Innovation Center.

Hanenberger also played a key role in the growth of GM's Asia-Pacific operations, including its assembly plant in Rayong, Thailand, and with Holden's operations in New Zealand. He is a director of GM Daewoo Auto & Technology Co., serving as a consultant for the rapidly growing Korean automaker.

Mooney, 46, brings to Holden 25 years of automotive engineering and management experience. After joining GM in 1978 as a college graduate in training with Oldsmobile, Mooney advanced to several engineering positions within GM North America. In 1993, he was named director of projects for future programs, and was promoted to vehicle chief engineer for compact cars in 1996. In the following years, he held several engineering director positions, and was named executive director of vehicle performance for GM North America before appointment to his current post in 2001.

At Holden, Mooney will report to Fritz Henderson, GM group vice president and president of GM Asia Pacific.

"Denny Mooney brings a wealth of talent and experience to this job and I'm confident he will continue to guide Holden down the successful trail that Peter has blazed," Henderson said. "His 'car guy' credentials are key to maintaining and building upon Holden's well-earned reputation for performance and quality."

Mooney holds a Bachelor of Science degree in mechanical engineering from the University of Michigan and a master's degree in national resource strategy from the National Defense University.

"I'm thrilled to have the opportunity to join the Holden team and to build upon the strong track record that Peter Hanenberger has established," Mooney said. "With the pending launch of the all-new, Holden Monaro-based Pontiac GTO in the states, Americans are about to learn what Holden's reputation for performance is all about."

General Motors Corp. , the world's largest vehicle manufacturer, employs 341,000 people globally in its core automotive business and subsidiaries. Founded in 1908, GM has been the global automotive sales leader since 1931. GM today has manufacturing operations in 32 countries and its vehicles are sold in more than 190 countries. In 2002, GM sold more than 8.6 million cars and trucks, nearly 15 percent of the global vehicle market.

GM's automotive brands are Buick, Cadillac, Chevrolet, GMC, Holden, HUMMER, Oldsmobile, Opel, Pontiac, Saab, Saturn and Vauxhall. The GM Group of global partners includes Fiat Auto SpA of Italy, Fuji Heavy Industries Ltd., Isuzu Motors Ltd. and Suzuki Motor Corp. of Japan, which are involved in various product, powertrain and purchasing collaborations. In addition, GM is the largest shareholder in GM Daewoo Auto & Technology Co. of South Korea. In some countries, the GM Group distribution network also markets vehicles manufactured by GM Daewoo, Isuzu, Subaru and Suzuki.