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BUSINESS
January 27, 1993 | From Times Staff and Wire Reports
Roger Smith Agrees to Resign From GM's Board: Former General Motors Corp. Chairman Roger B. Smith, who many critics said symbolized the problems facing the giant auto maker, has agreed to resign at the end of his term in May, sources said. Smith agreed to step aside at a board nominating meeting in Detroit earlier this month, when the company had to prepare SEC documents for its annual shareholders meeting, scheduled for May 21.
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NEWS
April 3, 1990
General Motors Corp. has scheduled a news conference in Detroit this morning at which officials are expected to announce that Robert C. Stempel will succeed Roger B. Smith as the chairman of the world's largest industrial company. Stempel is currently president of GM. Smith, who has run GM for a decade, is scheduled to take mandatory retirement in August and has been preparing the line of succession for months.
BUSINESS
October 27, 1992 | NANCY RIVERA BROOKS
The tenures of GM's past two chairmen were marked by declining market share, record losses and extensive plant closings and layoffs. GM under Roger B. Smith, chairman, 1981-1990: * Modernized its aging manufacturing and technological base. * Introduced the Saturn to compete with the Japanese. * Set an industry record by earning $4.86 billion in 1988, but little was contributed by the ailing U.S. car operations. * Lost 12% market share because of weak products.
BUSINESS
January 27, 1993 | From Times Staff and Wire Reports
Roger Smith Agrees to Resign From GM's Board: Former General Motors Corp. Chairman Roger B. Smith, who many critics said symbolized the problems facing the giant auto maker, has agreed to resign at the end of his term in May, sources said. Smith agreed to step aside at a board nominating meeting in Detroit earlier this month, when the company had to prepare SEC documents for its annual shareholders meeting, scheduled for May 21.
BUSINESS
January 24, 1988
The article on the Nova reaffirms my belief that, within 10 years, there will be a book on the market titled, "The Bankruptcy of General Motors." Unless the pension funds and other institutions that own most of GM's stock seize control of the board of directors and replace Roger B. Smith with new blood--perhaps H. Ross Perot--GM is doomed. RUSSELL C. BINGLEY Whittier
CALIFORNIA | LOCAL
June 13, 1985
The manner in which the media treats the so-called large bonuses to corporate executives bothers me because it lacks perspective. Therefore, I submit the following two comparisons. The lifetime earnings of Thomas Edison, Charles Steinmetz, Albert Einstein, or perhaps Jonas Salk, were exceeded by the 1985 bonus of Roger B. Smith of General Motors. But . . . Chrysler's Lee Iacocca's seven-year cumulative bonuses for saving billions of capital and thousands of jobs was exceeded by the fee paid to either Thomas Hearns or Marvelous Marvin Hagler for beating on each other for seven minutes.
BUSINESS
October 27, 1992 | NANCY RIVERA BROOKS
The tenures of GM's past two chairmen were marked by declining market share, record losses and extensive plant closings and layoffs. GM under Roger B. Smith, chairman, 1981-1990: * Modernized its aging manufacturing and technological base. * Introduced the Saturn to compete with the Japanese. * Set an industry record by earning $4.86 billion in 1988, but little was contributed by the ailing U.S. car operations. * Lost 12% market share because of weak products.
BUSINESS
May 8, 1988
On April 18, you reported that Roger B. Smith's combined salary, stock options and stock grants from General Motors totaled at least $2.2 million in 1987. It occurs to me, in a blinding flash, that this kind of remuneration cannot possibly be for being in charge of the production of bad cars year in, year out. The truth has got to be very exciting, and I hope my hunch is true. Smith, and his No. 2 man, Robert Stempel ($1.2 million), are well along the way in secretly developing a cure for cancer, and General Motors is fronting for them.
BUSINESS
August 1, 1990 | From Reuters
Roger B. Smith, General Motors Corp.'s chairman for 10 of the most tumultuous years in the auto maker's history, officially retired Tuesday, vacating a position often called "the toughest job in the auto business." Into the void steps President Robert C. Stempel, who must make sense of the changes that Smith wrought.
BUSINESS
May 2, 1990 | From United Press International
General Motors Corp.'s board of directors will be asked to double the pension for retiring Chairman Roger B. Smith, whose company lost 11 percentage points in market share during his leadership, it was reported Tuesday. The Dayton Daily News, in a copyright article, said the new plan would increase Smith's pension from $550,000 to $1.1 million a year. The company's board of directors said the retirement plan for top GM executives is non-competitive and shortchanges them.
BUSINESS
April 19, 1990 | JAMES RISEN, TIMES STAFF WRITER
General Motors Chairman Roger B. Smith said Wednesday that GM is now closer to actually producing and selling electric cars than ever before. "Our goal is to be the first automobile company since the early days of the auto industry to mass produce an electric car," Smith said in a speech Wednesday to the National Press Club in Washington. GM, he added, is "proceeding with our plan to produce and sell" the Impact, the electric car GM introduced at the Los Angeles Auto Show in January.
BUSINESS
April 10, 1990 | From Associated Press
The chairmen of General Motors Corp. and Ford Motor Co. took sharp pay cuts in 1989 during an auto industry slump but still received more than $9 million between them, the companies said Monday. Ford Chairman Donald E. Petersen received $6.6 million in salary, bonuses and stock options last year, down from $10.5 million in 1988, the No. 2 auto maker said in its annual proxy statement. GM Chairman Roger B. Smith was paid $2.5 million, down from $3.
BUSINESS
January 4, 1990 | PATRICK LEE, TIMES STAFF WRITER
General Motors Corp. Chairman Roger B. Smith successfully evaded filmmaker Michael Moore while the director was making his satirical documentary, "Roger & Me." But Smith found himself answering more questions about the film than he probably cared to Wednesday after a Los Angeles news conference at which he introduced GM's Impact electric car.
BUSINESS
April 4, 1990 | JAMES RISEN, TIMES STAFF WRITER
Hollywood won't have the Roger of "Roger and Me" to kick around any more. Roger B. Smith, General Motors' controversial chairman who has unwittingly become best known to the general public as the absent target of Michael Moore's savagely satirical film "Roger and Me," announced Tuesday that he will turn over control of the world's largest industrial company to Robert C. Stempel.
NEWS
April 3, 1990
General Motors Corp. has scheduled a news conference in Detroit this morning at which officials are expected to announce that Robert C. Stempel will succeed Roger B. Smith as the chairman of the world's largest industrial company. Stempel is currently president of GM. Smith, who has run GM for a decade, is scheduled to take mandatory retirement in August and has been preparing the line of succession for months.
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