November 2, 1992 |
GM Board Takes Aim Again: The outside directors at General Motors, having already forced the resignation of Chairman and Chief Executive Robert C. Stempel, reportedly want Stempel's predecessor, Roger B. Smith, to resign from the board. They also plan to dump Vice Chairman Robert J. Schultz, who heads GM's non-automotive subsidiaries. That would leave just one member of GM management on what would be a 12-member board: President John F. Smith Jr.
June 5, 2002 |
General Motors Corp. Chairman John F. Smith Jr., who rose to power after a 1992 boardroom shuffle, said he will retire in April after 42 years with the company. Smith was chief executive from 1992 to 2000, when he handed that post to Rick Wagoner. Smith told shareholders at the auto maker's annual meeting that he will leave at his next birthday, when he reaches the mandatory retirement age of 65. Directors will name a successor by the end of next year's first quarter, he said.
January 13, 1997 |
General Motors Corp.'s board this weekend considered two bids for the defense operations of its Hughes Electronics unit but made no announcement of its preference, according to people familiar with the situation. GM, headquartered in Detroit, is choosing between bids from Lexington, Mass.-based Raytheon Co. and Los Angeles-based Northrop Grumman Corp., and is expected to pick a winner in the next few days. Both bids include cash and stock, said people familiar with the offers.
December 5, 1992 |
Oldsmobile Fights Rumors of Its Demise: General Motors Corp. may have dashed the rumor that it was killing its Oldsmobile division, but sales of Olds cars and trucks are plummeting and dealer frustration is growing. Oldsmobile sales in November tell the story. The division sold 24,369 cars and trucks during the month, 32% below the 36,078 sold in the same month last year. The rumor that Oldsmobile would be dropped as a marketing division first surfaced in the Washington Post in mid-October.
November 24, 1989 |
General Motors Corp. said today it has sold about 5% of its holdings in Isuzu Motors Ltd., dropping its stake in the Japanese auto maker to 38.2% and earning about $82 million after taxes. GM and Isuzu have been associated for 18 years. Currently, Isuzu makes the Geo Storm subcompact car for GM, which is sold through the U.S. auto maker's Chevrolet dealers.