4.12.2002
GM Board names Wagoner next chairman

The General Motors Board of Directors today announced it elected Rick Wagoner chairman and chief executive officer (CEO), effective May 1, 2003. Wagoner succeeds Jack Smith, who will retire after 42 years of distinguished service.

The General Motors Board of Directors today announced it elected Rick Wagoner chairman and chief executive officer (CEO), effective May 1, 2003. Wagoner succeeds Jack Smith, who will retire after 42 years of distinguished service. Smith, chairman since January 1, 1996 and formerly CEO from 1992 through 2000, will also leave the GM Board upon his retirement.

"Rick is the perfect leader for General Motors going forward," Smith said. "His global experience, commitment to product and technology leadership, his proven track record of continuously improving all aspects of the company's operations, and leadership style, with an emphasis on strong people and strong teamwork, are the right attributes to lead GM into the future."

Wagoner has been president and CEO since June 2000, and was previously president and chief operating officer from 1998 through 2000. Prior to that, he was executive vice president and president of GM North America from 1994 through 1998. He became a GM director in 1998.

"The GM Board of Directors was unanimous in its selection of Rick as the next chairman," said George Fisher, who as chairman of the Committee on Director Affairs, chairs executive sessions of the GM board. "While filling Jack's shoes is a formidable task, we are confident that Rick will lead GM successfully in this highly competitive industry. In his recent assignments, Rick has worked closely with the board and proactively drawn upon its diverse experience, and we look forward to continuing and expanding that close working relationship."